Not when you think about what's going on behind the scenes. There are 40 CloudFront datacenters, which means all 40 of them have to have a dedicated IP and setup just for you and your SSL certificate.
If they're not using SNI I agree that it would be expensive... not necessarily that expensive, though. Elastic IP addresses cost $0.005/hour, which is about $3.60/month; multiply that by 40 datacenters and you've got $144/month worth of IPs, not $600.
Problem with SNI is that you lose IE users on XP. In the UK at least, that means entire organisations with thousands of employees such as Lloyds bank and the NHS. According to our stats anyway.
The way that many CDNs do this is to use a certificate with multiple names for many of their clients in clusters. Check the certificate on https://cydia.saurik.com/ for an example of this.
