Isn't this going round in circles a bit - use servers/web for stuff you need access to from wherever, use your machine for the personal stuff that you don't want others to see. I really don't see a future in "The Cloud" as it will take too much effort to supply the services that are required, imagine trying to get ALL applications onto the Cloud - that's what businesses and individuals will want.
There is mileage in having your DATA available anywhere, but applications? Why?
Also in the UK with the already overstretched broadband/internet access there are going to be bandwidth problems as well.
If you can run it locally, do. If you need access to data - whack it on a secure server or web host - but running the apps over the internet with effectively a dumb terminal at the end? Why?
We stopped doing it years ago - connectivity goes down, you loose the LOT, all your apps, all your services etc etc - not good for your business, and then who is to blame, hmm ISP's are going to love THAT clause in their contract - "Due to lack of service we were unable to do any work at all, therefore we are suing you, Mr ISP, for loss of money/business"