With cloud storage continuing to make progress as broadband continues to make inroads to more people and speeds increase, I hope features and transparency in using them grows. I have and use to various degrees iCloud, SkyDrive, DropBox, and Google Drive (used Insync for a while). My favorite is still DropBox and the space limitations are not an issue for most people. Speeds of Cloud storage will never be the same as LAN or WLAN speeds for large file storage, so frequent access to large files in the cloud is not a realistic possibility yet (ever?). While an argument could be made for backup, well I think CrashPlan, Mozy or Carbonite (as well as others) have that market covered.
While I like the Arstechnica brief pros and cons (http://arstechnica.com/gadgets/news/2012/04/cloud-storage-a-pricing-and-feature-guide-for-consumers.ars), I would love to see more in depth pros and cons from long term usage. iCloud for instance while great for iOS backup for our families 2 iPhones and 1 iPad, there is no transparent way to mount the iCloud volume for direct or cached data storage. On the other hand, the Shared folder on the Dropbox volume is nice for my wife and I to share working files across our two or three computers for work. Awesome. SkyDrive has a hook in MS Office which I have tested and works nicely, but it is limited in device support. GoogleDrive is really new, so I am still working through using it.
I suspect this will continue to evolve over time.
Get more cloud storage space. You know you want it. This is like Dropbox in how you upload and store and/or share docs and images. It is also the same in how you as a user get more space. Invite others! The ability to share large files that email can't handle is comparable to DB, but I think the sharing is set up in a more intuitive way. Faculties could use for sharing on specific projects -especially if it is a non google school.