Very interesting idea on using the NAS drive as a personal cloud. My netgear server will allow me to set up a personal FTP site linked to my WD 1TB NAS drive......hmmm.
In the meantime I have been using DropBox for cloud file storage and MobileMe for photos. With our MobileMe "family plan" we got 25GB of storage.
I have never had any issues with storage and managing of files since I use DropBox for everything and this keeps files in sync across ALL devices. No worries with different versions of docs on different devices. Throw in iDisk and Evernote and I have everything I need at my fingertips with no worries about sync or copying files.