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For anyone interested in optimizing S3 performance, I recommend Jim Sorenson's "Building Scalable Applications on Amazon S3" from re:Invent.

His comments on hashing for S3 buckets were pretty interesting.

Here's a very informative blog post by Doug Grismore that talks more about this if you are interested: http://aws.typepad.com/aws/2012/03/amazon-s3-performance-tip...