Source close to Apple revealed company's cloud strategy centered around cross-device syncing and streaming from either your computer or the cloud to your device.
These new capabilities are broken down into three groups:
- Streaming music and movies from Apple's servers to your computers, devices, etc. thus eliminating the need for a lot of local storage.
- Streaming music and movies from your home computers to your other computers, remote devices, etc. Apple will let you be the content distributor to your own computers and devices, as any purchased content that's locally on your computer will be able to be streamed using your internet connection out to your devices. Lastly, yes, wireless syncing of iTunes for devices.
- Wireless iTunes syncing with devices