Maybe I am slow, but I do not understand how istore for example is related to cloud computing

I could see where u have a portion of all you data stored on a central server of some sort, like all of your docs, or like a SVN code repository.
FB for iphone is a userapp which connects to FB in the same tradition of battlenet for warcraft etc.
For this to happen you will need a lot faster wireless networks for starters.
Who is going to pay for this

I am not saying cloud computing will not play an important part in the future.
But linking everything together seems to be a leap of faith

.
Also they compare it to remote desktop.
Simple physics seem to make using remote desktop difficult.
The latency from 3G etc is huge. Unless u can figure out a way to make electrons travel faster

If everything was running on a cloud, then why would apple be investing in LLVM

Or then again it depends on what u define as cloud.
LLVM if u made a rpc module similar to what twisted python has would rock.
The steve jobs analogy of truck and car seems much better.