Ok, this is not becoming my next “How to install …”
Instead I will only give a tip to those people trying to run Graylog2 on an Amazon EC2 instance type t1.micro.
If you just started and your first project includes the installaton of Graylog2 do not expect miracles from your tiny t1.micro instance 😉
The AWS instance type site lists the specifications for all instance types:
Graylog2 comes with its own full-fledged MongoDB, ElasticSearch and Ruby on Rails web interface + web server.
Running all this stuff with only 0.615 GiB of Memory probably looks like this: