OK, if it’s one or the other I have to go with the cloud. My stuff feels safer when it’s not subject to me losing something, dropping my laptop or whatever else I can do to mess it up. Having said that though, I really prefer a blend of both, a la Evernote or HTML5.
The ultimate convenience, as I see it, is to be able to seamlessly work on something whether I am connected or not, and that I can use any device to access (my phone, laptop, friend’s computer whatever). So is there an all of the above?