Only one thing worries me about the cloud: It facilitates state control because Cloud Computing reverses the decentralization (distribution) of computer power that heralded the internet. I think I got this fear from Cory Doctorow and his “The coming war on general computing.”
Anyway, maybe it is just a phase. Distributed Computing may very well be making a comeback as we see the end of Cloud Computing.
“World War III will be a global information war with no division between civilian and military participation.” -Marshal McLuhan