OP, I think you're missing the point of cloud storage in general. There are a few good things about cloud storage (not just icloud but cloud storage in general). You can have the same files across multiple computers and platforms, meaning you don't have to remember to copy a file to each one of your devices. It also serves as a great backup in the event something happens to one of your devices (if something happens you'll at least still have it in the cloud).
An example of how that can be beneficial on a phone is the ability to save and sync to the cloud. For example, on my G2X I use Dropbox. I have all sorts of files saved on there like saved html advertisements for my company, resumes, pictures, videos, music, etc. I also have it so that any time I take a picture or shoot a video, it's uploaded to my dropbox (which automatically makes the files show up on my computer in the dropbox folder) automatically. I never have to worry about losing my pics or videos. Also, I can click files in my dropbox and generate links to them and send them to people which makes it very easy to share various types of files.
All in all I think if icloud incorporates these types of features I think it will be a very good app/service to have. I'm curious to see what all features it will have.
