I've been using iCloud for months...

[varunsanthanam]

I put all my music in the "Music" folder of my iDisk. Then, I installed the "iDisk" app on my iPhone 4, and I can stream all my music over the air. The app supports the background audio multitasking APIs, so I can use my phone as I normally would, and I can control the playback form the lock screen.

 

[marc11]

I put all my music in the "Music" folder of my iDisk. Then, I installed the "iDisk" app on my iPhone 4, and I can stream all my music over the air. The app supports the background audio multitasking APIs, so I can use my phone as I normally would, and I can control the playback form the lock screen.

This is not the same. If the rumors are to beleived, you would not actually store the files on iCloud, but iCloud would know your iTunes content and make the music/movies available to you when you want to stream from an i device. So no uploading from your local Mac is required. Apple would pull the song or movie and stream to you from its local servers, not from what you uploaded.

And that the key difference between what we have now, Amazon or Google, you do not need to upload data, iCloud will, sort of take your iTunes XML, know what you have already purchased and make ti available to you for live streaming. Very cool IMHO.