I would absolutely not. What if they decide that the music branch of their business is expendable? "We're shutting down our servers in a month, gl;dd". Remember Microsoft.
As would I, but doesn't that eliminate a lot of the convenience of leaving it up to Google, the cloud, etc? At that point, why not just set your music up on a RAID, and stream it from home?
Pain to set up. Not all ISPs let you run a server. Having to have a server up and running 24/7. Google probably has better infrastructure and more reliable network connections than I do. Google has someone on call 24/7 to fix problems. Basically all the standard arguments as to why you let anybody host anything rather than doing it yourself.
