Unfortunately from how things look the cloud is the future of gaming. I for one won't buy into it. Sure the cloud has its advantages but none of which I really care for, but the disadvantages turn me off.
No offline play: my PS3 is offline 90% of the time, the other 10% is used mostly for trophy syncing, some multilayer, updates, and sending/receiving messages. No interest in an always-on game system.
Internet Connection Required at all times: sorry but I have had some issues with downtimes from every ISP I had. Couple that with power grid issues, and you will twice as likely encounter downtime.
If the service goes, everything, and all your investment, goes with it. Not interested in the risk. Sorry.
But it WILL be the future of gaming whether some of us want it or not. The mainstream market embraced digital with the iTunes music, despite having less sound quality than the CD, and DRM-laden Digital Distribution on PC is at its strongest. Steam is popular, but it is also DRM no matter how you spin it. Online passes also didn't stop games from selling millions, and there is no shortage of gamers defending the rumored anti-used games technology in the PS4 and Xbox720.
The truth is, the games industry would love us to be able to play their games without actually possessing them, for consumer control and copyright protection purposes. The cloud is the only way for publishers to really achieve that goal, and you bet it is going to happen. The consumer is willing to let it happen.