If you are using s3 as a website, you can set a s3 object as error page.
A micro instance can easily handle this load.
1 million pageviews per month is just 23 pagviews per minute.
If done properly - files & images on S3, served statically with nginx, with caching and CDNs when appropriate, etc. - a simple web server will have no trouble serving far more than 23 pageviews a minute.... (more)