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I'm based in the UK, as are all users of my web app, and currently host in the EU-West region. The US-East region is quite a bit cheaper and I'm using a service from another company that locate their servers in the US-East region (meaning that I'll have data transfer costs between regions if I kept things in the EU). Has much of a speed difference am I likely to see between the two?

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You can use this link for testing around 50 different services of AWS. 

If you only want Amazon EC2, you can type it in the search bar in the link, or directly use this and click on "Start" 

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