How is the performance relative to Heroku though? I have a lot of terrible, inexplicable problems with Heroku (random huge amounts of request queue-ing even at times when our site is below normal load).
I think these are all "noisy neighbor" issues and I would gladly leapfrog up from one host to another so long as the process isn't much more complicated and the performance is more reliable.
We use Elastic Beanstalk + RDS in a production environment. Its okay, but expensive and the performance is lackluster. We'll be moving to physical hardware shortly.