I found this section most reassuring: (Name redacted)
I. XYZ CORP MAKES NO WARRANTIES.
XYZ Corp is in no way liable for loss of customer data. Under no circumstances will XYZ Corp be held accountable for any loss of customer data. By becoming a XYZ Corp user you, the customer, acknowledge that you forfeit the right to hold XYZ Corp accountable for any and all technical errors, including loss of user files (customer data).
In the event that XYZ Corp concludes offering data storage services, XYZ Corp users will receive the option to have their stored files sent to them in CD or other format selected by XYZ Corp. XYZ Corp does not guarantee length of service.
XYZ Corp intends for the information contained on its Site and Services to be accurate and reliable; however, errors sometimes may occur. In addition, XYZ Corp may make changes and improvements to the information provided herein at any time. XYZ Corp PROVIDES ITS SITE AND SERVICES “AS IS,” “WITH ALL FAULTS” AND “AS AVAILABLE,” AND THE ENTIRE RISK AS TO SATISFACTORY QUALITY, PERFORMANCE, ACCURACY, AND EFFORT IS WITH YOU. ...
It goes downhill from there, with page upon page of disclaimers.
Will this stop me from using this Web 2.0 services?
Will I think twice before I move data I care about in the cloud?
I did not post the disclaimers about no guarantee of security and privacy... They are even more entertaining.
This is not to gripe against Office 2.0/Web 2.0 but rather to call people's attention to the fine print.
These vendors want us to consider them as replacements for the desktop or servers.
Consumers need to make informed choices.