Last summer I switched jobs from a company where we developed loads of cloud thingies ourselves, because there really weren't any good options around ten years ago when we started a product line that needed a high quality global service (involving processing, networking and storage). We had a lot of fun basically building our own little (if 5000+ machines qualifies as little) AWS/Google-style Cloud. I heard about Amazon Dynamo in 2007 and then we basically re-implemented it ourselves. We added lots of neat features like datacenter-aware global replication, etc.
When I joined the new company last June, it was basically just me. A few months later we hired a great python dev. I'm so happy to find that the level of the openly available products/services had caught up quite a bit by then, enabling us not to spend so much time on just making sure things were available all of the time, and ~infinitely scalable.
I spent a lot of time evaluating AWS vs GC, but my inevitable conclusion was that.. in a small company where you don't want to invest in a 24/7/365 devops team you should go for the Google App Engine.
I would really like it if Google found some pragmatic way to make App Engine work inside China though, at least for companies that have chinese ICP permits.
(Why hasn't AWS launched a PaaS? Lambda is so neutered that it doesn't really count.)