Excellent and well said, but I am not a believer in the cloud, yet.
It's just that it is coming whether we believe or not.
A freeper in IT responded to me last week that his Fortune 500 organization has migrated to the cloud and their IT costs have been cut in half.
It appears that private firms (have heard that Kaspersky is one) are developing protocols to protect data in the cloud as securely as they do on your PC.
That said, the cloud revolution is infinitely more powerful than that, for example, of the auto insurance industry's Usage Based Insurance in which drivers are charged based on mileage, demonstrated driving experience, acceleration, stopping, etc.
Yet they are similar conceptually.
Using UBI, your auto insurance will reflect your actual performance and you will not bear the cost of fellow drivers who are accident prone or who abuse their equipment. Soon the same will be true of health insurance. Abuse your body...pay the price in terms of higher insurance.
The internet of everything is upon us and the cloud is a component of such.
Using the cloud, our cost of computing will plummet and our power of access will explode.