Count me in on having iTunes Match connection issues.
ITunes is installed on my iMac G4, which runs Leopard. My music library is stored on an external FireWire drive. I opted for this setup for iTunes Match as the G4 is my main computer. The MacBook Air is usually only used when I'm out and about at school. I noticed yesterday (March 8) that I was having problems connecting to iTunes Match. I turned it off and on countless times; rebooted the computer and router countless times; turned off Home Sharing. Still got the cloud with the lightening bolt. iTunes Match confirms that I have 4,217 songs in the cloud, but I only have 4,024 on the G4. (There are songs I hadn't gotten around to downloading from the cloud when I first subscribed, so they were grayed out once I started getting the lightening bolt. After I turned off/on Match, those grayed out songs have disappeared [even though they're still on the FireWire drive]).
I went ahead and made a new playlist last night in the G4 iTunes, figuring Match will eventually connect. The new playlist is showing on my iPhone 5c (haven't checked the Air yet). The iPhone also shows I have 4,221 songs available (I have some tunes on the phone prior to subscribing to Match, I guess).
This morning, the G4 iTunes is still showing the lightening bolt.
I also checked https://www.apple.com/support/systemstatus/ ---> iTunes Match is showing a green light as of 10:30 this morning.
This is leading me to believe that Apple dropped Leopard support from iTunes Match. (?)
Which you're probably thinking is odd... considering that playlist made it into the cloud. But I was still able to access the iTunes Music Store on my clamshell iBook running Tiger long after I couldn't access the main screen of the store anymore. Also, I find it a coincidence that the Power PC users are having problems with Match the day before an Apple Event, further making me believe we're without full Match capabilities now.