If you want to actually check out some cool cloud computing. Then
go here and check out eyeos. It's an internet operating system. The cool thing is that you can download it and install it on your own server as you wish.
Actually different from eyeos. Buying tons of computers with no hard drives and one uber powerful server hosting an os and have everyone boot from lan. One time setup with all of the computers setting up to boot from lan. Then, maintenance would only need to occur on the server hosting the os. Great for computer labs, net cafes, etc.
With eyeos what you could do is create your own server on your own network and connect to it from anywhere in the world from your web browser. Sort of like storing your files on the net. Except not, it's on your network. Yet again very similar to logging onto a computer via ssh and using a remote desktop viewer. Just that the web browser variant would only require a web browser. Something all computers have as opposed to ssh, vpn, vnc out of the box.
Internet os's and internet based software like google's browser based word processor is handy stuff. Especially if you go out of country. You can just use any computer and just login to your internet desktop from a browser. But, like everyone says, you don't want your data where you can't control it. I'd only ever store my data on a local computer or over the internet vpn'ing to my network.