I like the idea of not having to worry about hardware when I'm more interested in software. But there's a certain amount of control that's given up when you relinquish ownership of the hardware. I don't like the idea of paying for things in a service model.
I'm approaching this from a personal perspective, not a business perspective. I'm completely comfortable with reducing my business's risk and liability by buying into hardware as a service. But I'm not as inclined to trust it for personal computing.