By "GAE provides you much more", you mean much more *limitation* right?

The cost on setup is trivial for a long run application when compared to the 
hosting cost.  I dont think the high price worth that cost for long term.

Also remember a GAE instance allows you to handle exactly one request at a 
time.  The cost is not just 4X or 8X, but 40X or 80X if one instance on EC2 
can handle 10 requests at a time, which is normally much higher than this 
number.

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