boxgrinder vs. AMC "create image"

[sean darcy]

I've been messing with the i386 ebs-backed F15 on a micro-instance. Very 
impressed. Really spectacular.

Now I've been modifying and adapting it to use as a mail server. I'd 
like to create a modified ami. I've seen the material using boxgrinder 
on the wiki:

https://fedoraproject.org/wiki/Cloud_SIG/EC2_Creation

but this may require more cloud-foo than I possess.

I see on the AWS Management Console an instance action "create image". 
Would this be a coward's way out?

sean