I'm avoiding 'The Cloud' wherever I can (not easy working in an IT type profession) for the simple reason I don't think it works! One major failure and you're without all your work.
This point was proven - only to my wife, but I enjoyed it - last week when our service provider had a random fault and we were left without internet access for nearly three days (I know, ages! It felt like months!).
After packing the kids off to bed and putting the TV on like normal, I booted my laptop and merrily worked away on a few things using the good ol' fashioned hard drive. Minutes later, I had the wife asking me why she couldn't edit this, or why she couldn't find that, etc. I had to explain how the internet/cloud works and try to stop grinning as I realised she keeps nearly everything online!