Understanding CLOUD Computing

CLOUD computing can be seen as:

Common
Location-independent
Online
Utility provisioned on-
Demand.

We've covered this in the past, but I think its important to bring up and companies are searching for new ways to cut costs with enterprise computing. What do you think? A way that completely carries applicatons outside of the computer hardware--will this catch on? We'd love to hear your thoughts.

Angsuman Chakraborty's Enterprise Blog covered this as well, and the article can be seen in Ajax World Magazine.