Pretty good so far.
It was pretty easy to install, although, during the initialization part, I bumped into an error! For some reason I could not set up my domain and the default (www.example.com) was set up automatically so I could not access my new magento site. I was using PuTTY as my ssh client. After a couple of days of trying solutions with the help of the support team we couldn't bypass the error in PuTTY so we tried an online SSH client and it worked fine. The problem apparently had to do with the SSH client. After that, everything seems to be working fine. The support team was very helpful and thou the communication wasn't instant they were very good.
Thanks Santiago, After working with another customer on this same issue, I've worked out the cause. As crazy as it sounds, it was caused by too much text for the size of a default PuTTY window. Simply increasing the size of the PuTTY window resolves the problem! I have now trimmed down the text so future users should avoid that issue. A updated AMI should be available soon.