Earlier quoted context omitted.
Yeah, with the free usage tier you get 30GB data transfer (15GB in + 15GB out) included but that would soon run out.
From what I see Data Transfer is $0.10 per GB in $0.15 out http://aws.amazon.com/ec2/pricing/ Assume you seed 50% more than you use 1GB (10c in) + (15c * 1.5 seeding) + (15c download) = ~47.5 cents per GB ouch. However, a blue ray rip is something like 8.5GB * 47.5 cents = 4.04$ which is not that bad. Assuming you get the actual content that you want, don't end up in jail etc, it’s still cheaper than HD PPV let alone…
There will absolutely come a point in the future when it will be cheaper to download and store all your files in the cloud, and keep them in the cloud rather than download and store locally.