Channel Insider Blog - Microsoft - SBS 2008 Muddies the Waters of Hosted Services:
http://blog.channelinsider.com/content001/microsoft/sbs_2008_muddies_the_waters_of_hosted_services.html
Here's how I see any hosted service these days.
If I want to collaborate with my staff with any sort of technology that uses a level of geek higher than yelling "Hey, can you find that file?" if they are sitting in the office next to me, I'll use Sharepoint.
If I want to collaborate with clients and customers, external to me, I'll consider the cloud.
My "stuff" I keep close to me, on my server, where I can keep an eye on it. My line between hosted and non hosted is the door to my office. Anything internal, stays internal. Anything external, I'll consider the cloud.
It's quite clear to me.
My biggest concern is the implementation. Will it be sold, implemented through MVLS? If so, that needs work. Will it be through Office live? If so, there needs to be better partner tie in so that customers see the partner value. The mud in the waters is in the details of the implementation to me, not the 'where data should live'.
If it's my data, it's inside my walls.