"Aboutthe only app I can think of is HD video editing, and thats a little bit niche."

Tosh.

There's a host of applications that rely on a fast and reliable sustained data read/write such as Cubase, Avid and many other music, media, video and post-production tools. Enthusiasts and freelance media authors simply wouldn't get this performance from a cloud service. And if you're used to SCSI performance, forget it.

And Tim - I've also noticed a drop in quality. I used to swear by Seagate for reliability but I've had 2 barracudas (< year old) die on me in as many months.