I can definitely confirm that on Kindle Touch and Kindle Paperwhite 2, the pixels are not device pixels. If the previewer is to be trusted, nor is Voyage. However, a kindle e-ink pixel seems to be larger than a kindle fire pixel.
I've struggled with this particular display problem myself. Use fixed pixel dimensions, and the proportions only look OK on certain devices. Use relative dimensions, and it looks pixellated and/or silly on large screens, and miniscule and silly on small screens. I really miss support for the max-width attribute on the kindle at times like this.
I normally try to set a min-width in pixels to ensure it will look sensible on small screens, and give the width itself in %, so the layout will be OK on "normal", 6-inchish devices, and not too silly on 10-inchers. People reading on computer screens will just have to live with the silliness of the image dimensions...
(That is, unless the image contains text. Then of course em's would be the way to go.)
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