even when it's running a full version of Office on cloud? I think you're are being over-dramatic, dude. Check out the Onlive app on iOS first before making such bold claim.
Yeah. Even when it's running a full version of Office on cloud. In fact, I'll even assume that the iPad will get a perfect native Microsoft Word version from Microsoft in the near future. It will still suck.
It's not the software that's the issue, but that a tablet is not the best tool for writing. I have used a tablet (iPad 1 + iPad 2) for a long time, and I assure you, I can type with 10 fingers on the screen of a tablet at 60WPM minimum... but I still think it sucks for word processing.
Specifically, what happens when you need to format multiple paragraphs, highlight different things and apply formatting? You have to hold your finger down every time, wait for a magnifying glass to come up, and pray that your finger won't accidentally move the cursor when you lift it.
Not painful enough? Try to change font size of different sentences in the same paragraph.
Still not painful enough? Try to copy and paste from different documents.
Sincerely, it's okay if you are writing 3-4 pages of an essay (minus the fact that you have to email the document to yourself just to print it out if your printer doesn't support AirPrint), but if you are writing more than 3 to 4 pages, it becomes a huge exercise of patience.