What limitations exist when using a mounted AWS S3 drive versus a mounted EBS Drive?

EBS is 'traditional' because it is high performance and low-latency, suitable for databases for example. If you're just storing a bunch of files then S3 will be good and scalable. Indexing might be slower because of the slight latency increase, but if your indexer can parallelise its indexing then it shouldn't matter much.

You would probably want to use an EBS volume to store the indexes themselves, or keep the indexes in RAM, otherwise the latency will hurt your application a fair bit... But it depends on your use case. Do some experiments.

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