My bill is up by almost 3 times. I dont think i have the money to pay
for that. And the mid-september date is too near to be able to do
anything about it.

While Greg's reserved instance idea is great, but i dont think it can
push down the bill as much for a app owner since you might be either
under utilizing or over buying, either way loosing money.

Besides that, in the past 2 weeks i have seen random upward and
downward trends in instance count for my app, which make no sense to
me at all. I have observed my app using 100 instances and then
climbing to 200+ and then coming back to 130-140 range for pretty much
similar number of requests/sec. I dont think the scheduler is ready
for prime time pricing change.

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