Currently Being ModeratedJul 20, 2012 8:26 AM (in response to gabgirl94)
Match isn't a replacement for a proper backup or archive of your media. For one, the format used to store may not exactly correspond to the format in which you have your media, especially if you have media in full quality format on your drive. Second, if for any reason the copy in the cloud gets "lost" then you're out of luck.
http://forums.macrumors.com/showthread.php?t=1277415 - deleting items from your computer but saving them in iCloud. Yes, but risky.
It is a convenient way to have your music accessible while away from your computer. Read the below for more information about streaming/downloading.
iTunes match - http://www.apple.com/itunes/itunes-match/ - see FAQ at end too