My biggest concern about the Cloud is that I have The CS 5.5 Master Collection right now. If I join the cloud for 18 months and decide to drop I loose the current Cloud Membership version be it CS 6, 6.5 or 7. I would still be able to use my 5.5 version but there may be features I still need in the current version. I think that is why many would prefer to buy the boxed version and own it rather than rent it. I think it is great that current user get a discounted price for a year. Having said that I would join The Cloud if I got to keep the current CS version when I stop making a monthly payment to The Cloud Membership.
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