Yup its overrated, very much like the web when it was in its infancy with companies jumping on it but not knowing what to do with it. I have been in dicussions with companies that MUST be moving to the cloud, and when asked why, the usual answer is "because its the next big thing"!!
I'm sure it'll find its place but its not a replacment for local applications and data, or remote servers and secure connections.
Having just been without the interweb at home for nearly a month I realised just how much I personally had come to rely on it for work and hobbies but also for simple things like googling phone numbers for local comapanies. My point been that until we have a 100% coverage wireless network covering the majority of the world then having all your data in the cloud is going to be problematic.
Gaz
