The Economist Magazine just came out with a good overview of cloud computing and how it is the next phase of computing.
See it here.

Basically cloud computing is where you use a browser (the thing you are reading this blog on) to actually do productive (or not) work on vs. old fashioned packaged software. It is also called Software As A Service or SAAS. numia.biz, our free online small business accounting software is in the vangaudr whe it come to this next phase of computing.