In my experience the pricing for hobby apps is quite good and in
general you'll find that light usage will fall under the free quota.
If you decide to go to production, the heavy costs come in a couple
forms:
  - datastore reads/writes
  - storage costs
  - frontend instance costs

How much each of these costs you will depend on the business model for
your app, your code, and how much you change data.

As jon pointed out, datastore reads/writes tend to be our top cost.
Use memcache whenever possible to keep database queries to a minimum.
No such luck with writes however.  Our most common/important entities
tend to have 12 or more indexed properties, so adding a new entity
means paying for around 30 operations.  At $1/mil operations the real
cost tends to be about 3-10 cents per thousand adds/edits.  Still not
bad, unless you need to tweak a large number of entities, where it
gets very expensive, very fast.

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