I have seen a lot of chatter on the forums about how iCloud is NOT going to be a streaming service. Certainly, when I look at how the current feature set on my 4.3.3 iPhone 4, and my iTunes are, it appears that way. However, these are NOT iTunes Match, and certainly NOT iCloud... So just because it's not streaming today, doesn't mean it won't when they launch the full service. Here is WHY Apple MUST stream your content rather then caching it locally... First of all, most people with iPhones have only about 8-16 gigs of storage available for music - the rest of the space is eaten up by apps, app data, photos, email, etc... Yet, most of us have music collections of 30, 60, 100, maybe even 250 gigs for a power user. There is NO WAY iCloud is going to work if users have to sit on their iphone and manually choose what music they want to get from the cloud... Nor will it work if my PC at work only has 20 gigs free, but I have 100 gigs of music in the cloud. It will be a complete disaster that will lead to another MobileME style debacle... Therefore, Apple MUST offer audio streaming on the cloud to be successful... Otherwise, forget it, what's the point? Oh and one more thing while I'm at it... I've bought 280 songs on iTunes... Guess what, Apple only has 173 of them available in my purchased music... Must mean they are missing a LOT of licenses from the record labels still... So iCloud is also going to have issues with lots of songs not being available in the cloud.