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The "ethernet" port that is presented to your instance is a virtual port - it's not a physical port and therefore doesn't have a speed that is negotiated (like a physical port does).
Different instance types have different networking capabilities. The documentation talks about how to find the available bandwidth for your instance type.
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How is it different from windows based EC2 ..because I can see the speed in windows?
name LinkSpeed Status InterfaceDescription
Ethernet 2 1 Gbps Up AWS PV Network Device #0
Hello Brettski, your answer "hit the nail squarely on the head"!!! Many, many, many thanks for a great response, and for the additional documentation.