Problem with remote access to Mysql Server

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http://nixcraft.com – I am having problems connecting to remote mysql server. I am running two ec2 instances, one has mysql server configured and the other is from where I need to connect to. Things I have done... 1. I have modified /etc/my.conf to comment out skip-networking and added bind-address to point to mysql server ip. 2. I made sure port 3306 is open for listening. 3. Tried connecting remotely using $ mysql -u <user> -h <mysql-server-ip> -p No luck yet :( Any clues on what's going wrong? (HowTos)