We already know it's DRM free. Jobs said that in the Keynote. If it works like the current "iTunes in the cloud" works, then yes, you'll be able to command another machine to simply download the songs.
If you really wanted to, you could then copy them to an external drive (just to be safe), delete them from your original machine, unsubscribe and then copy the newly downloaded songs to the original machine.
If you're planning on staying subscribed then I'd imagine that's work you wouldn't need to worry about doing.
My thinking is we haven't seen everything with iTunes Match/iCloud yet. It doesn't make sense for it to not be a streaming service. I think the final incarnation of it will be similar to iTunes home sharing in the interface. You will be able to see and play your iCloud Library on any connected device, and choose to import whatever you like from it.
The streaming factor hasn't been clarified as of yet. It hasn't been denied either though. I'd imagine it will be presented as another benefit with new iOS devices are launched.
If you really wanted to, you could then copy them to an external drive (just to be safe), delete them from your original machine, unsubscribe and then copy the newly downloaded songs to the original machine.
If you're planning on staying subscribed then I'd imagine that's work you wouldn't need to worry about doing.
My thinking is we haven't seen everything with iTunes Match/iCloud yet. It doesn't make sense for it to not be a streaming service. I think the final incarnation of it will be similar to iTunes home sharing in the interface. You will be able to see and play your iCloud Library on any connected device, and choose to import whatever you like from it.
The streaming factor hasn't been clarified as of yet. It hasn't been denied either though. I'd imagine it will be presented as another benefit with new iOS devices are launched.