iCloud is quite an interesting website. its like another desktop on top of your current one. In iCloud, it creates a place where you can store up to 3gb of space for free. Instant messaging is also avaible, integrating MSN, ICQ, AIM, and icloud messenger. It is able to convert microsoft documents, into icloud documents, making it avaible to read on iCloud. Importing music and photos is also a feature. Able to save at any location. Also to browse the web using their own browser on icloud.
It is however, a bit laggy and slow. Uploading time is not as long as the loading of programs inside icloud. I think of it as another way to store things that can be accessed in different places. I also think that it is like a remote desktop to your own desktop at home.
Overall, i find that iCloud can be very useful but it first needs some fixing in some areas.
You wrote a very good synopsis of icloud. I'd be happy to answer any questions you have about using icloud. http://lingonlife.blogspot.com