I thought Google docs (and the cloud) was a very neat concept and tool. The relatively limited options for changing the look of text etc is too much of a problem. In my case, all I need is to be able to highlight text in bold or with italics occasionally.
I played about with some text and shared the resulting doc with my supervisor. All very easy.
When I first logged in, Google alerted me to a new feature, enabling you to upload any file. Right now, I'm reading a book manuscript by a philosopher I know who lives in the States. He's send me Word docs of each chapter. My plan is to give feedback in the form of insertions into the manuscript. It occurs to me that a convenient way for us to share our thoughts would be for the docs to be in the cloud and view/editable by both of us. I could access the files when I don't have my laptop, or work on them on my work or personal computer without worrying about which computer has the latest version. Gold Star for Google. They might be a bit iffy with copyright, but I don't think they're evil.