Well, that's really just "-setra" and other file system mounting options, and mdadm (Linux software RAID) configuration options. Yes, there's a little bit of a learning curve and pain to get things set up, but it's not completely out of reach.
Despite being relatively old, I think the advice and approach still holds. Clearly, EBS hasn't improved since then and the need to do this kind of striping over EBS volumes hasn't been obviated yet.
I found a benchmark from 2008 that details the problems with RAID10 and sourced it in a comment above [1]. These are just raw disk transfer numbers, though. I can only imagine how they would change as CPU usage/postgres load climbs. IIRC disk IO is network traffic and network traffic is CPU dependent, so as load increases, IO will suffer greatly.
http://orion.heroku.com/past/2009/7/29/io_performance_on_ebs...