Wow. I wasn't expecting such a detailed and awesome answer Danny. Thanks so much, I'm in the process of migrating away from S3 anyways (for other reasons) though you're right in that I'm going to miss the cost & load times.
I'm using Middleman for now, though the technical part of my brain is indeed interested in how you're going to accomplish the Jekyll solution. I'll look out for your post!
And thanks for the tip on my site. Another thing to add to the list
Arun