Amazon doesn't know how many resources you're going to spin up and how many ENIs they will need, so it's hard to really tell you how big of a subnet to create.
You can also use the AWS NAT Gateway which doesn't require you run your own NAT instance
You can also use the AWS NAT Gateway which doesn't require you run your own NAT instance
AWS also double-dips on the traffic charges for the VPC NAT - you're charged for the traffic it transfers, but you're also charged for the same traffic in the general bill, from what I've been able to glean. Given that traffic is where AWS is not competitively priced, it's something to be cautious of.
[1] http://docs.aws.amazon.com/AmazonVPC/latest/UserGuide/vpc-na...
[2] https://stackoverflow.com/questions/18507405/ec2-instance-ty...
But yes, if you're going to be sending big traffic through the NAT, a t2.small doesn't have the network performance.