Cloud computing makes no sense for someone with a x264 1080p encoded bluray movie collection when movies average 8-16GB on the low side for 1080p encodes, and from 25GB to 50GB for RAW untouched releases. In order for that to make any sense, the pipe to each household would have to be a phat one. I have a 46Mbps (5.8MBps) fiber connection and even that can only download 350MB per minute, 10GB every 30 min or 20GB per hour at peak. Although that is sufficient for streaming if done over a wired connection, it is still not practical for a/v philes at this point in time. Besides, nobody should be putting 1080p bluray movie encodes on any server outside of their home. The same goes for anything you DON'T want the world to be able to access, whether legal, illegal, questionable or simply private content.
That is just my 2 cents though. Take it if you will, at face value. 🙂