I recently switched from backing up my iPhone locally on my Mac with iTunes to iCloud. My problem was that for some inexplicable reason iTunes couldn't sync my calendars and after a while it outright refused to sync anything on the iPhone. I had to do a restore to new phone to get it working again and after that ordeal I thought I might as well switch to iCloud. So far it has been smooth sailing, but just as torifile, I only use if for the basic stuff.
So far I think iCloud is doing a good job.
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