For someone with my kind of internet service (3Mbs DSL), iTunes is still the practical approach. I do appreciate being able to download a previously purchased item. Sometimes I will offload something to archives and then decide I want it back, etc. So now I don't have to scrounge around for finding the offload on an external drive. I never index any of that stuff so it's like a scavenger hunt if I actually need to fish something out of archives.
As far as iTunes Match goes, it's not worth it to me to risk finding out that a lot of my classical stuff would end up as uploads. It's not the storage cost. It's the bandwidth consumption getting it there, or down again. I have the CDs still, in most cases. I have the rips all backed up, sometimes in multiple formats.
So what do I really need of an opera in the cloud, would I ever actually download it from there? I tend to think not. Maybe if I wanted someting in nicer format than my original rip and I couldn't find the CD without spending two days looking for it.
But there doesn't seem to be a way to do extremely selective iTunes Matches like that unless setting up a separate library on a laptop and matching just what I elected to put into that library. That's a time consuming setup. A lot of weighing costs v. benefits involved here.