Cloud hosting certainly has some advantages over other types of hosting. It is more reliable, of course, because if one of the server fails, you'll have other working servers.
Dedicated servers, as the name suggest, allot you a dedicated amount of computer resources for your needs on a single machine, as compared to shared hosting, where you have to share resources with other users.
However, a shared hosting spread over different servers can also be called as cloud hosting. In general, this is the case in most of the cloud servers. See yourself, it is not viable to dedicate a small amount of resources in different servers.
For example, you have the option of two types of hosting, one with a dedicated server of 1 GB RAM, Xeon Processor, and 1Gbps line. The other offers almost the same features but on cloud servers. Say the cloud consist of 10 servers located at different places. In this case, it is a remote possibility that you will have a dedicated amount of resource on each servers, i.e. 0.1 GB RAM etc on each server.
So, if I am given a choice, I'll prefer dedicated hosting. Infact if the hosting company is good and reliable, offers regular backups and is committed towards uninterrupted services, then go for dedicated server.
How does Rackforces's cloud computing services seem to anyone?
https://www.rackforce.com/index.html
As stated, I prefer to stay away from cloud servers, I could not tell anything about it.
However I found some reviews about it
here and
here. Look for yourself.