Just slightly more expensive than the same instance with MySQL on RDS ($0.24)
Is that included in the server cost? Or will you actually be paying ~3x the server + storage costs?
"Storage consumed by your database, up to 64 TB, is billed at $0.10 a GB per month and IOs consumed by your database are billed at $0.20 per million requests"
Sounds like the replication is included in this, but Amazon really should clarify that.
If you go to the normal RDS pricing, there's "Single AZ" and "Multi AZ" pricing. The Multi is 2x Single because it transparently runs the 2nd instance. http://aws.amazon.com/rds/pricing/