So What is Cloud Computing?

My definition of Cloud Computing seems to change on a daily basis. Is it the new buzzword or is Cloud Computing going to stay? Don't we already have a cloud? Internal Cloud? External Cloud?  Hmmm? VMworld 2010 was all about the cloud. So let's talk about it a little. Here 's a pitch I found that describes the cloud from a VMware point of view:

http://www.vmware.com/solutions/cloud-computing/























So what is your definition? Are you planning on embracing it?  I'd love to know your thoughts?

~ Scott March