If it isn't too expensive to run for you, you might be better off putting it at CKs solo pool and hoping to hit lucky. S3s seem to have held their value in relation to other rigs well. My S3 which I just got working again I am going to leave in the solo pool to hit lucky, it is part of a solo experiment.
Sure, you can do this... But the OP should understand it's like buying a lottery ticket... He'll invest money in this setup every day, and the chance of hitting jackpot is VERY small.
And IF he hits the jackpot, it'll be a 25BTC block, worth around $10.000.
EDIT: to put things into perspective:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=441&p=340&pc=0.11&pf=1.00&d=166851513282.77700000&r=25.00000000&er=425.00000000&hc=0.00
On average (with all the current conditions about diff, block reward, bitcoin price,...) , it'll take the the OP 18807 days to hit one block (about 51.5 YEARS).
Each day, running an S3 will cost him 90 cents.
In 51.5 years, the power cost will be $16926.
IF he finds a block before the halving, it'll be a nice bonus, but on average, he'll lose money... But like you said: it's lotto mining
