Requests: There's a Drive API daily quota of 500,000 requests/day ("courtesy limit") which you can find from your API dashboard (https://code.google.com/apis/console/)
Bandwidth: Google Apps for Business and Education have published bandwidth limits although I don't know if these are the same as for the Drive API:
Download: 750 MB/hr and 1250 MB/day
Upload: 300 MB/hr and 500 MB/day
http://support.google.com/a/bin/answer.py?hl=en&answer=1071518
Compared to Amazon's S3 / CloudFront? I'm not convinced that it's a like for like comparison. Drive would have to be compared to DropBox, Box.com, SkyDrive, iCloud and the rest.
Google Cloud Storage enables application developers to store their data on Google’s infrastructure with very high reliability, performance and availability. If you’re looking to store personal data in the cloud, consider using Google Drive instead. Or, if you are are an app developer who wants to integrate with Google Drive, you can do so using the Google Drive SDK. https://developers.google.com/storage/docs/getting-started
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