A key element of the infrastructure that will form the cloud is resource reservation and a protocol that enables applications to reserve the resources. Without this element we can't have a credible SLA offering. But this reservation system has to be integrated into the billing system as well as the customer entitlement system.
Today's oversubscription systems allow contending processes to carry entitlements, however those entitlements have no basis in economic value of the user who initiated the process. For example, in VI, one can allocate shares to compute elements but those shares do take into account the customer's SLA entitlements. Neither did I see anything in the recently released vCloud API anything that says someone is thinking about it.
Since the days of Cluster/Grid, we have been making pretty powerpoint slides showing the business value of IT to customers. Cloud is supposed to provide the mechanisms for the customer to harness/govern the business value.