ICloud- inquiring about going huge

3 questions and I apologize if this is posted in the wrong area.  I looked for a iCloud-dedicated board.  Couldn't find one
1- I am super pumped about this whole Cloud integration and love using Apple products whenever the price between right to nearly obscene.  But I'm wondering if I will be able to store 1TB of data on the iCloud?  Apple is only advertising a 50GB upgrade.... but what if I'd like to store all of my media cloud-style?  Do you think they will have some sort of massive option/discount?
2- Things I should bring to attention to avoid any discussion lashing.  I don't know much about cloud(s).  The extent of my knowledge comes from skimming the info that Apple has provided.  I am unaware of any performance limitations using iCloud may present if I'm to say try and watch an HD movie.  If this concept of buying a TB of cloud space is not a terrible idea, I'm not a total idiot and would definitely consider buying space from a company that deals more in bulk if the price is hugely different (but would using any other provider present any limitations in terms product linking, etc.?).
3- I'm in the business of creating apps (iPhone, Android, Web).  I'm not a developer.  I outsource that work.  Nonetheless, I like being as up-to-date on trends within the industry as possible so I can ask a iPhone developer for example: "what language are you coding this in?"  If he responds "I'm using this new tool that mimics native apps but really is a webapp at its core" I'd say "you're a POS.  I told you I wanted a native app written in this language and uses these APIs..."  SO my question is, I see a lot of cloud talk bouncing around in iPhone/app development circles.  What are the advantages of using cloud (however possible) within an app?  My app, specifically, is one that has creating profiles, geo-location, back and forth communication between users inapp, and transfering data in general at its core.  How could I benefit or what should I expect my developers to think in terms of utilizing a cloud GIVEN the fact that we are about to embark on rapidly churing out our V2.0 product?
Thanks in advance.  And COULD DO on one of those super long answers that some gracious people like to provide.  I'll be working all night and could use a break!
-Rob

Well, I'm sure you are looking forward to a really detailed answer; however, the problem about a not-yet-publicly released product is:
The only people who may be able to provide such an answer are not allowed to do so (or they'd be violating the NDA they agreed to); so, for now, the only information available is what Apple has publicly made available. And, speculation about future Apple products is not allowed here....

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