Pros and Cons of Software as a Service

This is about a post from another blog, I found it very interesting and well-balanced actually. Hard to find those these days. Maybe our blog isn't too balanced itself (we love SaaS, don't we!?).
It details (in not too many words) the pros and cons of software as a service (software on demand).
Here's the link:
http://dpixel.wordpress.com/2007/12/17/the-pros-and-cons-of-saas/
from the The Damaged Pixel Blog by Sam Law.

I agree with these pros and cons, although I think that the cons aren't as bad as they seem. But as the post points out it does depend on the company you pick to store your valuable data. I guess I say this because I am thinking of salesforce.com and that they are a pretty stable company that will secure your data.