I'll be honest. I wrote off iCloud the first day it came after it messed up my bookmarks. I keep different ones for my iPhone and iPad and It just copied my ipad ones to the iPhone, deleting my old ones. Was pisssd after the first day, totally turned it off and did a recover on my iPhone to get them back.
Went to sell my iPad 2 two weeks before the new ipad came out and decided to have a back up of my back up. Turned on iCloud and actually learned what it does. It really is amazing, no excuse to ever lose iPhone or iPad data ever again, love it. I still don't use photo stream since I really have no need for it.