Cloud Computing: The wave of the future?

Recently, Google announced the future release of Google Chrome OS and this has caused quite a stir on Twitter and in the technology blog scene. Everyone is talking about how cloud computing and SaaS applications are the waves of the future and how they will change the computer industry. Although I beleive this to be true, I still find one glaring weakness in this argument; Cloud computing and SaaS are not only the waves of the future, but are the waves of the here and now.
While some companies have been doing SaaS for a long time, many large corporations (e.g. Microsoft, Unisys, IBM) have just recently been releasing SaaS products at an ever faster rate. So much so that Brian Sommer of ZDNet recently announced on his blog that, "SaaS is now mainstream." This shows that the market is ready to embrace SaaS, not a few years into the future, but right now.
The guys from the hosted solutions blog got it right when they said, "[Cloud] technology isn't the future, it's today." As the talking heads continue to debate the future of cloud computing and SaaS, us already in the SaaSosphere, will enjoy the benefits it can provide today, and determine the role it will play in the future.