If you're using it properly you can even boot VMs off of it, in the same region (S3 data transfer in region to EC2 is free) like this article is talking about.

If you're using it properly you can even boot VMs off of it, in the same region (S3 data transfer in region to EC2 is free) like this article is talking about. Just don't enable public read on your bucket to avoid a surprise bill.