Experience using Wowza Media Server for Amazon EC2?

Question 1: WHat have people's experiences been with using Wowza Media Server 2 for Amazon EC2 (http://www.wowzamedia.com/ec2-streaming.html)

We're planning to use it to allow streaming experience for all of our stored videos (which are on S3).

Question 2: I'm specifically interested in knowing how many connections the EC2 instance can handle before balking...

I'll be setting up the flowplayer as follows on my server

<script type="text/javascript">
    flowplayer("player", "../flowplayer-3.2.4.swf",
        {
            clip: {
                url: 'mp4:amazons3/videos/thevideofile.mp4',
                provider: 'rtmp'
            },
            plugins: {
                rtmp: {
                url: '../flowplayer.rtmp-3.2.3.swf',
                netConnectionUrl: 'rtmp://999.999.999.99/vods3'
                }
                        }
        }
    );
</script>

where 999.999.999.99 will be the EC2 instance

Question 3: IF the EC2 instance (referenced via the rtmp://) is inaccessible, would the video be completely unplayable?