I like the convenience of taking an AMI snapshot - but ideally I do no want to pay for the volume to be attached to my running instance.
Is there a way to save a snapshot instance to S3 and then launch from S3 without attaching a volume to the running instance - gaining the convenience of snapshots - without the running costs?
EBS snapshots are already persisted to S3 (http://aws.amazon.com/ebs/)
from ebs docs:
Amazon EBS also provides the ability to create point-in-time snapshots of volumes, which are persisted to Amazon S3. These snapshots can be used as the starting point for new Amazon EBS volumes, and protect data for long-term durability. The same snapshot can be used to instantiate as many volumes as you wish
and AMIs are also stored in S3.