I actually did this last week. It took days, and I kept blowing away my bitcoind while tweaking things.
I eventually gave in and downloaded the torrent for the recent blocks, but even that took a long time to import, as Disk IO on the micro instances is very limited as well as CPU instances ... Note that the Micro instance is not guaranteed performance as it is their "free" tier"
I eventually went to a m1.large for the two day period to sync all blocks, and now seems to be working fine on the Micro instance once it caught up and I reverted.
kosta
Thanks guys, Kosta do you know the approx disk space requirement after bitcoind is synced up?
I get 30 gb ebs for free, so unmounted the default 8gb and created a new 21 gb mount to use for bitcoind, hope that is enough space.
This to me is one of the biggest shortfalls of bitcoin as time goes on, imagine 30 years from now and when bitcoin actually becomes popular, you almost need to buy hardware with all the blocks preloaded otherwise no retail users can ever catch up.