I have some issues with cloud computing generally, though it seems the way things are going. They are:
1. The digital divide. There are parts of the United States that don't have ready access to broadband. Add to that the developing world, where reliable network access at all is a fleeting thing, let alone a high-speed connection. Computing power at this point for "Everyday" tasks is dirt cheap - network infrastructure is expensive.
"We're moving to the Cloud" reads to me a lot like "The poor need not apply".
2. The Law. Our legal system just isn't up to snuff for cutting edge tech - its all rooted in false analogies. There's no real way to handle what happens if say, your data is sitting on the same disk as an organized criminal organization's data. It gets seized...what happens? What's covered under a search warrant for something stored "in the Cloud".
3. Ownership. Digital media has already done a number on the idea that you own something you buy - and I think Cloud Computing has the potential to extend that. Not only are you now only renting content, you're also renting resources. I'd rather we not take more steps in that direction.
Says the man with an SSH terminal up as we speak