Upload & Sell: Off
I've been subscribing to Adobe Cloud since I got rolled over from the monthly licensing agreement. I went with the monthly licensing because it makes more sense, given their new upgrade pricing scheme.*
First, it's been mentioned before but from subsequent comments, it clearly bears repeating:
You install the Adobe products on your LOCAL machine and YOUR files stay LOCAL.
The only thing "cloudy" about Adobe's new licensing architecture is that the license isn't tied to a physical CD, it's tied to your adminstrative account at Adobe plus a UID comprised of a random string generated on the machines you install Adobe products on.
FWIW, Microsoft is moving towards this model with their Office suite. This is latest trend in anti-piracy, and it also makes life easier for system administrators - SAs can manage licenses for software on workstations without having to access the workstation itself, drastically reducing IT operating costs. The drawback, of course, are the edge cases mentioned in this thread where people may be using unnetworked workstations.
I'm running PS v5. I see no incentive to upgrade to PS v6 until they get that release sorted. I don't use LR, so I can't speak to the available versions for that software.
There does seem to be a push for some amount of drive space hosted by Adobe, I haven't really looked into it but IIRC there's 20GB included with the license. I have the Photoshop app on my android tablet, and it wants to save everything to the hosted space. This drive space is natively available in the tablet app, but I haven't looked into how to get to it from any desktop application as the feature is irrelevant to my needs.
* I believe the new upgrade pricing scheme was setup to specifically make monthly licensing worthwhile for the consumer