Not sure about that, I've never done an S3 backup myself, I just have a number of friends that have done it and really like it.
Also keep in mind that with S3 you pay per unit usage, so depending on how much you have, you could eventually reach a point where you'd pay more per month than Mozy's unlimited for $5. I trust Amazon a bit more than I'd trust Mozy, but it's something to consider.
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