I think you're safe and don't fall in the category "cloud skeptics".
Not seeing 100% of computing power in the world moved to the cloud is normal I think, "cloud skeptics" though would hope that 0% was moved since they reject the concept as a sound IT architecture.
Like you, I think that hurdles still exists (privacy, compliance) and have to be discussed in all honesty as you put it and publicly. This will to help to get them tackled by all parts involved. The Cloud as a whole (vendors and ISPs) is just maturing as technology evolves...
For having worked for a SaaS vendor, I think that security issues essentially are more of a debatable rumour or an easy argument than an obvious fact. Security is a really complex matter and I have yet to see the proof that any Ethical (or not) Hacker would find his way quicker into Google than into any other Corporation Infrastructure. I appreciate that there is an higher appeal to target Google but then I suggest that if it was the case this would have already happened and would be widely publicized.
Cheers
Fabrice Cathala
