I think we all now know what the 'advice' from Apple is in terms of what NOT to do, but if any of us comes across an app that does what iPhoto did, that would be extremely helpful.
I have been using Shoebox; http://shoeboxapp.com/pricing, which is excellent in that you have unlimited storage at the free level, and for $5 a month you get to store full resolution. However, there's no edit facility like iPhoto had.
I am very aware of the advice Apple has thoughtfully given out about "data loss' and "poor performance" when using network connected libraries. Bearing that advice in mind, I am making backups daily, just in case. The convenience of having a central library of photos and tunes is superb. I'm surprised some garage business in California hasn't thought of it already?
I would advise all who venture down the same path as me, to NOT do so unless they are prepared to lose all their data on their network drive. For me it's a venture that I'm hoping will defy the advice, but I'm underwritten by a backup policy. You have been warned.
(There's also the notion that not all advice given out is the truth. Anyone who had display problems with their PowerBook Pro/MacBook Pro, or Wi-Fi problems with several products, motherboard problems, connectivity problems et al, and were told over and over again that "it was unheard of", or "affected only a handful of customers" will know what I'm talking about).