The cloud is already happening and Microsoft isn't in the clouds. Balmer thinks the cloud will be the next big os. Sorry, it ain't happening that way. The cloud is already being used by people who need it. Scientists. Some of it will filter down to the proletariat but only if it fills some kind of need. I don't see the need.

Yes, it would be cool to access all your everything from your phone, computer, whatever all the same way. This will likely happen without too much cloud computing.

Moore's law keeps on keeping on. TBs of storage is just too cheap and getting cheaper to allow cloud computing to get off the ground for anything more than specialized projects like needing several hundred CPUs.