Just how important is “moving to the cloud” for your organization?

Executives who use Dropbox regularly were concerned to learn about a security event at Dropbox. You can read the details here:
http://latimesblogs.latimes.com/technology/2011/06/dropbox.html

As some of my consulting clients move towards the cloud, others are digging their heels in and refusing to turn loose of their security. They do not want to trust the security of their private data to services, nor are they sure their data will be available when they need it.

Still, some very large organizations are moving to the cloud.

What are your feelings? What applications do you use in the cloud?

Please post your comments on this blog.