App Engine smells better than it sounds.
This kind of performance is not available from a server farm without a heavy pricetag, and Google can scale really like they all promise. But in this case it is free at least for now. So if you write a killer application that really needs to rock’n’roll on the farm, Google might be the one you see about settin’ it up. Because you are potentially a star o young and junior programmer, please go far, if quality is what you are.