Agreed, I also don't see much advantage in word processing or spreadsheets on the cloud. The only thing I can think of is some light-weight collaboration, but

Agreed, I also don't see much advantage in word processing or spreadsheets on the cloud. The only thing I can think of is some light-weight collaboration, but more involved collaboration is better done using version control anyway. This is outweighed by the disadvantages of having to deal with clunky Javascript/Flash apps and slow internet connsections. There are many cool things to be done on the cloud, but Office-style apps just don't seem to be a good example.