I hope so.

Cloud computing is defined many ways, but I perfer to think of it where your applications and data are stored externally to your PC. This could be a remotely hosted SAN, a series of servers or a distributed web application. They key point to me for cloud computing is that anyone, sitting anywhere can access their programs and data. 

Many folks have used a version of cloud computing for a long time, at least since the web started. In the last few years, though, cloud computing has gained a wide following due to the power in the browser and Web 2.0 applications. 

There was an article describing Richard Stallman's view on cloud computing. He's not happy about it:

Somebody is saying this is inevitable – and whenever you hear somebody saying that, it's very likely to be a set of businesses campaigning to make it true.

Richard has a point about that, but more importantly he is concerned about the lock in created by cloud computing. Lock in means you cannot move your data or switch programs, because your data or programs are homed to a certain set of standards on one system. For instance, you cannot simply move your email from Gmail to Yahoo Mail. You are locked in for your application.

Lock in is a consideration when you're considering cloud computing. You can avoid lock in by ensuring the following things:

Data portability: You can avoid data lock in by ensuring the cloud application has an export function to a basic file format. As an example, Zoho allows you to export files in common Microsoft Office formats. Most online feed readers allow you to export to an OPML file. 

Open access signons: Your logon ID is important to identity and permissions in a cloud application. By using one of the signle sign on services you can limit your exposure. If you use your Yahoo ID through Open ID you minimize the risk of someone compromising or limiting your functionality.

While cloud computing isn't perfect yet, you can take steps to avoid lock in and ensure you get the most benefit of the services.