This article seems to skip on one of the most important aspects of Ubuntu One for me: syncing my /Home folder.
I've been keeping my photos/documents synced across platforms for years with Dropbox. Ubuntu Ones service is significantly slower at this procedure... BUT, Dropbox doesn't give me the flexibility to sync my config files (or if it does, I have no idea how.)
Keeping my config files synced is immeasurably more valuable for me across my Ubuntu machines and makes a re-install much more pleasurable. I no longer need to spend the hour or so I used to setting up my software the way I like it... it just works.