1. My development machine, being a notebook, is always too slow. Being in the "cloud" this could be fast enough for building and deploying.
2. My internet connection at home is too slow for fast turnaround (1 mbit/s). With this I would not have have to upload the built packages to the deployment machine. Assuming the IDE runs on the deployment machine.
As a Java developer (most of the time) I would need this to be a Java IDE though. :-) But there is no reason that this would be impossible.
When my teachers learn that everything I turn in I do it in class, and not from home, they are genuinely surprised that I am able to do things well and on-time. With this, I can do some work on my netbook, download it at the labs, and keep working from there.