I use it as a safety backup of my photos, which are all backed up onto the computer as well. I find it really handy when I take photos with the phone, and a bit later I can see nice big versions on the pad, which are much easier to edit, and when I take photos with my Lumix I copy them off the camera onto the pad via wifi, then I can see them on the phone as well.
Then there’s all my ebooks that I can start reading on either the phone or pad, then pick up where I left off later on the other device.
Until Apple allow either 320Kb or Lossless in iTunes Match there’s no way I’m letting my music library go onto the Cloud, though; the bitrate is too low, and I’ve got more music in my library than I’m allowed to put put into the Cloud.
The cost of extra storage is peanuts, I’ve got 200Gb, with 128Gb available, and I think I pay £2.49/month.
1Tb/month is £6.99/month, and if I was going to put my music up there then it would be worth it.
But not at a compromised bitrate.