I did this a few weeks ago and tried to use it form a fairly old MacBook. I intended to use RubyMine which had a few minor issues while scrolling. What kille dit for me however was that all short keys would go to my local machine. Since using RubyMine lives from extensive short key usage this setup wasn't an option for me.

The nice thing however is that you can also stop your instance and only pay as you go.