I can slash about 4000 of those dollars down to 600 by renting hardware to run those services on. Makes you responsible for your setup but if you are bootstrapping, you can find better first year uses for 3400 dollars I'm sure.
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# Pros of setting up your own host.
- Huge cost savings.
# Cons
- Heroku is way easier to scale, just drag the slider. Upgrading databases / redis is still a pain. I recommend going with RedisCloud instead of Heroku Redis. With database you have to do a migration and copy the data over.
- Having to deal with securing your own server and maintenance.
- High upfront cost due to setup
At the end of the day, it's about what your time is worth :). There's no right answer. I go with Heroku myself. The instant gratification is hard to beat.
That's why I recommended in a other comment using people that do stuff similar to what you need and split cost among several companies.