I'm ok with that. Your next concern would be the Datastore Reads. I think you should be able to bring that down a lot by using memcache and/or combining your monitors into a few entities. I'm not familiar with python, but I believe you can use pickle to serialize an array of monitors into a blob which you can store as one entity. You may need to split your list of monitors into a few groups to stay under the max entity size of 1MB, but this will drastically cut down on the number of reads that you need, especially if you combine with a memcache.
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