Hi Ian,
Short answer: sometimes.

When you create a stereotype in a profile, one of the things you can specify is the instance type, ie what type of element EA should pick when creating an instance of an element with your stereotype. You can also set the metatype for a stereotype, so if you define a stereotype which extends Object, you can cause it to appear to be something other than an Object in the GUI.
But what you've got right there is a bit of a rum one.
If you right-click an instance type element (like Object) and check under Advanced, you'll find the Instance Classifier menu item. This allows you to select which classifier the instance should refer to. That menu item is absent from classifier types, like Class.
Instance and classifier types also offer different options when dropped onto a diagram from the project browser. With a Class, you can select to paste as Link or paste as Instance (creating an Object), but with an Object you don't get the question: objects can't in turn be instantiated.
However, a deployment specification seems to be a bit of both. You can create a new deployment spec and specify a classifier for it,
and you can drag it onto a diagram and create an instance
from it. This is weird. Artifacts behave the same way (and I believe a deployment spec is in fact an extension of an Artifact).
A few simple tests show that Use Cases beget Use Cases, Nodes beget Nodes, but Activities beget Actions.
So there are several other classifier types which do not result in Objects. And the distinction between classifiers and instances is not clear-cut. In EA, at least -- not sure what the standard says.
HTH,
/Uffe