At least there is no advantage while average net connections are still slower than a hard drive. Even if they were faster the biggest disadvantage (to me) is far too big to get past... No internet connection = no data. And network congestion = data so slow you may as well not have it. Redefines the impact of DDOS.
Cloud computing has a place and, for the most part, I think it has already achieved it.
Hehe... people have been confidently predicting the imminent death of PCs for what, 10 years now?