Something we missed in the whole PAX East shuffle is a PlayStation 3 update that included a brand new feature for PlayStation Plus subscribers. The feature is cloud storage and what it does is adds the ability for members to store and backup saved games and data to Sony's servers much like PC users can do with Valve's free Steam Cloud service. Why would you want to do this? The answer is two fold really.
On one hand, you'll have a secure place to keep some saved games in case of a system failure - that is assuming of course - Sony has data redundancy. The bigger reason you'd want cloud storage is if you own two PlayStation 3's or frequently visit a friend's house for co-op sessions. Utilizing the storage you can start a game on your own PS3, visit any other PS3 with internet access, sign in, and resume your saved game.
As of now the usefullness might be slightly limited, you'll have to manually move stuff into the cloud to back it up. But Sony promises future games taking direct advantage of the storage space allowing you to save directly to it. As of now, space is limited to 150MB.
Anything to give you more value for your subscription is good in our opinion. Glad to see this tech finally making it to the console world.
Source: Blog.us.playstation.com