Great news!
Amazon just announced “Reduced Redundancy Storage” (RRS) for S3. Objects stored with the RRS “storage class” are “99.99% durable over a given year,” whereas “standard” storage is 99.999999999% durable (overkill for backup for most people). Objects stored with RRS are only $.10/GB per month ($.11 in the Northern California region — see pricing) — a 33% savings!
Arq with RRS Support
Arq 1.4 is out with support for RRS! Pick “Check for Updates” in the Arq menu to automatically update, or download it from the Arq product page.
For new users of Arq the default is to use RRS. For current users Arq continues to use Standard storage (I didn’t want to assume everyone would want to make the switch).
Migrating to RRS
If you’re a current user, just install the update as described above, then go to the Budget tab of Preferences and check ”Use Reduced Redundancy storage class for new objects”:

If you want to convert your existing S3 objects to RRS, click the button “Update Storage Class of Existing Objects.” Arq will determine which storage class each object is in:

Click “Convert” to migrate:

Enjoy the savings!
- Stefan