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I was recently able to set up TSM to back up to an AWS S3 storage gateway. We are still testing, but so far, backups are about 3x slower than going to local disk. Restores are about 2x slower.
We are currently testing client backups to a cloud container pool after installing v7.1.7 on the server. Still slow initially, but are seeing some improvements after setting up a "cloud cache" (or hybrid cloud) per IBM recommendations. We are still testing this, but it may actually be usable.
Of course, still trying to figure out how to get a copy of the TSMDB in the cloud. The only way I can think of is by using an AWS storage gateway. Any other thoughts?