Encontrou este nugget de uma entrada de blog do RightScale que discute a confiabilidade do EBS:
From a practical point of view what this means is that you should expect the same type of reliability you get from a fully redundant RAID storage system. While it may be technically possible to increase the reliability by, for example, mirroring two EBS volumes in software on one instance, it is much more productive to rely on EBS directly. Focus your efforts on building a good snapshot strategy that ensures frequent and consistent snapshots, and build good scripts that allow you to recover from many types of failures using the snapshots and fresh instances and volumes.
fonte: link