This is a prototype, all suggestions are most welcome.

Cloud computing gives the potential of having a robust computing platform
which is location independent, robust (So the school burnt down....
you still have to get your homework in!)
There are issues however around security, data protection, vendor lock in and its longer term evolution. Early adopters may get a sub-functional solution which will be expensive to maintain or migrate.
I don't have answers for these concerns, however the following list of resources may provide a starting point for further thought.
Briefing Docs
http://net.educause.edu/ir/library/pdf/ELI7073.pdf Educause Doc "7 things you should know about.."
http://erevolution.jiscinvolve.org/wp/files/2009/07/clouds-johnpowell.pdf More detail in a slightly older JISC paper
http://www.intel.com/Assets/PDF/whitepaper/IN_Ed_Cloud_Computing.pdf A short briefing paper from Intel
Flavours
http://www.microsoft.com/education/solutions/cloudcomputing.aspx A Puff page from microsoft
http://www.google.com/educators/index.html A puff page on Google for educators
http://aws.amazon.com/education/ Amazon web services in education Puff page
http://appsineducation.blogspot.com/2011/06/what-icloud-means-for-education-you-can.html Apple Puff Page
General
http://www.cloudave.com/1790/how-cloud-computing-can-help-school-education/ Using the Cloud in third world contexts
Security in the cloud
https://wiki.internet2.edu/confluence/display/itsg2/Cloud+Computing+Security A nice technical review of potential issues
http://www.educause.edu/node/645/tid/27148?time=1308258214 A very comprehensive listing or resources, at least 200 links
Specific issues
Drop Box http://www.dropbox.com/ Many practitioners use this to exchange files. Two issues have arisen which may be of concern. 1) Once this has been used on a computer that machine may retain authorization rights even when you think you have closed it and moved away.
2) This may be slow to update across machines. This has caused problems where an earlier copy of a document which had been amended was submitted as a final copy.
Google Docs, or emailing a copy of the document to yourself have been recommended as safer alternatives.
Google Docs The user has control the following link is to a Mashable post on the institutional implications of this.
http://mashable.com/2011/06/29/google-apps-security/
Vendors in Ireland??