If you're working on applications that will need to be using the gpu regularly, you can build a system with 4 gtx580s for about $3,000, and one of those systems will outperform 2, maybe 3, aws gpu instances, which will run you about 1000 per month each. The ownership number does not include data center/power/etc., but I still think buying is better value if you'll be using it a lot.
Now, if you're running gpu jobs sporadically, aws may make sense, but you should really look carefully at this, it's not the same value relationship as hosting web servers on aws (which I'm a general proponent of).
Although, to be fair, that may change if they really do pass on some of their savings from this deal to the user.