"45.3 million consumers have now signed up to Office 365"
Another 45.3 million who can lose all their data when their credit card provider has a systems glitch (TSB?)
If you value it, store it yourself, so you know it's still there when you need it. Cloud as an execution platform can have huge advantages (access to sophisticated code you only need occasionally, flexible load, etc) but cloud as a retention platform is a recipe for disaster as everything depends on your subscription being made perfectly, on time, every time (and of course on the service remaining available). It's an accident waiting to happen, particularly for consumers, who may not have the backup capability to protect themselves.