"How to deal with a world where everything is distributed, latency is wildly variable, where we have to scale for *throughput* more than anything else."
Not sure I buy this: Various studies show latency is important to users and particularly so in e.g. the financial space. That focus on latency often comes at the price of throughput. So, if you're a simple website offering services that aren't latency sensitive, the cloud will be just fine and apocalypse is now. Not sure the same can be said of all web facing systems as some are latency sensitive.
links for 2011-05-09