Since the storage volumes are more durable than local instance storage a lot of the risk of losing it all if the instance dies goes away. It is now possible to run a single instance with the database data living on a storage volume and to take frequent snapshots to get backups onto S3. Should the instance die, it is very simple to launch a fresh one using the same storage volume. Typically it would take only a few minutes for the new instance to come up and take off where the old one stopped!
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