my workstation was a thin client, most of them were. They were dog slow though.
This - thin client was to be the messiah for business - it failed at implementation, I can't see how things have changed, the workplace is far better suited to the cloud/thin client model as you can easily predict usage patterns, if it didn't work there, I don't hold a lot of hope for the new gen stuff.
For my money the problem is the user... we lie, constantly, about expectations, usage, requirements, and acceptable 'service' levels.
I just need something I can use to have a quick browse of the internet and maybe check my emails... (and watch movies, and listen to music, and write the odd document, and play games, and do skype... and while I'm at it I want to record, edit and upload 1080p clips of us doing stuff...)
Just look at how the mobile phone has changed to the point where the ability to actually make a phone call is almost an afterthought (where is the iphone 4?....

That's not to say the idea of cloud storage, and some additional services aren't most welcome (I would love to have a netbook/gPad that I could augment through a cloud based model) - but I can't see the point of moving all storage/processing capability out of the unit.