The issue I'm having is I want to upgrade that instance often(security patches, etc) but I'm affriad something will fail and the site will be down. So, I want to have another server setup and load balance between the two that way I can easily disable one, upgrade it and once it's working add it back in the mix and repeat. What kind of machine is needed for a load balancer? Would the micro instance work just fine? The site gets anywhere from 3-10k hits/day.
I plan on using nginx as the load balancer.