On the other hand, hosting a blog on S3 means that it can scale to handle any conceivable amount of traffic.
However you really should look into static website generators such as Jekyll, Octopress or Hyde. They provide a much cleaner interface for that kind of stuff.
http://www.allthingsdistributed.com/2011/08/Jekyll-amazon-s3...
Then it bypasses wordpress and php entirely via htaccess and becomes entirely static.
As people say, static generators along with a small toolkit of your own will probably produce better results. But what is proposed is a compromise between an already started job and a good cost-scalability ratio, though…