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At the moment there aren't too many services available from the cloud in a cost effective way - at least from the big players that large enterprises will look to deal with. At the moment we're finding that our desire for cloud type solutions far outweighs the markets ability to deliver them. As existing on-premise services start to age I think we'll see a service-by-service migration to those cloud services that are mature and have a cost effective billing model. For some services this will work out well, but for others the market won't be ready and the services will enter another life/depreciation cycle as on-premise solutions. It's great to see VMWare et al creating solutions that will help enterprises build their solutions in a way that will support and enable cloud computing in future.
Tom (twitter.com/tombasham)