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When I create an EBS storage, If I allocate the size to be 500GB but only end up using 30GB do I need pay for the full 500GB or do I pay for 30GB, because this is what i've used?

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You've reserved 500GB - that's what you paid for.

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EBS snapshots only charge you for the data used, the drives charge you for the reserved size. – Flashman Jun 6 '11 at 22:20
sorry what do you mean? the drives charges you for the reserved size? – 001 Jun 7 '11 at 7:48
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