SimpleDB (per Netflix's lead engineer that blogs about their transition onto it) seems to rate-limit accounts per-domain. So you might have 1 account, and be doing queries or inserts from 10 threads to a single domain, and those (from what I gathered) will be rate limited to approximately 40-70 requests per second (I have seen varying reports).
The other thing to consider is that your domain grows in size, the query performance degrades.
Because of these 2 behaviors, it is recommended that for large data, you "shard" your data across multiple domains.
So consider a social app that tracks tweets, you might create the following 5 domains:
TWEETS_0,TWEETS_1,TWEETS_2,TWEETS_3,TWEETS_4
then shard your inserts across them:
int domainIndex = tweet.getId() % 5;
simpleDB.doInsert(domainIndex, arguments...)
or some such pseudo-code. Aws recently upped the domain limit to 250 per customer so it seems this sharding design is expected to be used.
The pipe-dream promise of SimpleDB is "we scale, you worry about code", but the reality is that we just aren't there yet.
You still have to worry about a handful of details.