Back to School - Cloud Cumputing Good or Bad?

Well it has been awhile sense I have made a post. The holidays are just about over and it will be time to return to school soon. I will be taking customer service and Security +. We will have a new instructor for Security + and I am excited to see what he brings to the table. I have been noticing a lot of talk about cloud computing on the Internet lately. This also brings up a lot of talk about security. I am hoping to get a better grasp on the ins and outs of this new concept. As of now I have no opinion on cloud computing. I would like to hear what others have to say.