We use S3 behind 1 second max-age cloudfront to serve The Verge liveblog. It's been nothing but rock solid. We essentially create a static site and push up JSON blobs. See here:
http://product.voxmedia.com/post/25113965826/introducing-syl...
http://product.voxmedia.com/post/25113965826/introducing-syl...
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Which is to say, we wanted a rock solid network and to essentially be a drop in a bucket of traffic, even at the insane burst that The Verge live blog gets.
It'd be interesting to see how wide the key space is due to clock skew. I suppose we could specify some number and consider it a global counter that is incremented every second, then when someone comes in for the first time they can by synced in with the global incrementing counter. That counter is used to ensure a fresh cloudfront hit.
I think at end of the day, these issues haven't been a huge concern for a one month emergency project, but they are good points.