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First is loss of privacy and security so the whole Cloud leaves me cold. Let me have my apps and data at home and provide a service to let me get back to my apps and data. Then its free or low cost now, but that won't last for long. Apple is notorious for changing the rules just look at history of iTunes. Then notice all the wireless companies are talking about end of unlimited accounts, they see all this app's and data in the cloud is going to be BIG business for them.

People don't need a cloud (return of the mainframe) they want a Conduit in the sky to make keeping their devices in sync easily.