The idea of not always being able to access my own files no matter what isn't appealing to me. If my files are on my hard drive, they're more tangible. I literally physically own them. I could take my hard drive out of my computer and hold my files in my hand if I wanted to.
Google Docs is a good example of the kind of "cloud" computing that I appreciate. It really convenient not having to worry about carrying a usb drive around with your work on it for school. Also, not having to worry about which computers have MS Word installed on them.
I see it being a lot more feasible in a decade or two as internet connections become even more common than they already are.