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Think of it another way - what would be more valuble - RubyGems hosted on CDN, or RubyGems on DO and give a couple of grants for talent hackers to work on their gems fulltime for a few months. (ala GSoC)
Even if you ARE concerned about latency, have one download server in the US (E.g. DO), one in Europe (e.g. Hetzner) and one in SE Asia (Not sure who's cheap and good-ish there), and you'd still be a 1/4 the cost of AWS bandwidth or less.
A self set up Linode CDN with all six location Tokyo, JP London, UK Newark, NJ Atlanta, GA Dallas, TX Fremont, CA
Would have provided 48TB of Pooled bandwidth at a very decent speed and cost around $480. Linode's Network are great, much better then DO. I am not sure if it match CloudFront, which isn't exactly the fastest CDN anyway.
