
Using "reserved instances" totally changes things
As you say: "the Google man uses Amazon's standard pricing for instances, rather than its reserved pricing."
There's a *vast* difference between those prices.
$0.68 per hour without reserving an instance,
$0.24 per hour when you reserve an instance (for a $2800 once-every-three-years reservation fee).
This knocks the monthly price down from $118k to under $55k.