scooterdude - 1:36 pm on Feb 16, 2013 (gmt 0)

my understanding(possibly wrong), of what such means,is

Previously, your site might have been physically present on a discreet , that is single server, possibly without load balancing or with limited load balancing

Cloud:
Physically, this usually means a very large array of servers connected by cloud software, all collectively load balancing, however, if you're with a small hosting firm, it could also mean that they're moving from running your site on their own colo hardware servers to running from another companies cloud infrastructure.(Amazon,Rackspace,etc)