Just is case you missed this pitch, there is a lot of buzz about it in the LinkedIn Cloud Group. Mostly around challenging the assumptions. Its worth a 10 minute look.
http://uptimeinstitute.org/images/stories/McKinsey_Report_Cloud_Computing/mckinsey_clearing_the%20clouds_final_04142009.ppt.pdf
Personally I think the definition, and top down vs. bottom's up convergence framework makes sense. What is not well discussed are the key drivers. Greater variable/fixed costs, SAAS plug and play, and IT self-service will be key factors to roadmap decisions in my view.
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