Enough acronyms for you?  Here's an interesting article from InfoWorld discussing a new Gartner report on the challenges and promise of software as a service delivery models for ERP. 

Some interesting points in here but mostly stuff that you could predict.  It still must be integrated.  Just because it is "on-demand" does not mean it is of instant value.  Even more interesting is a discussion of the total cost of ownership of SaaS ERP vs. on-premise and how on-premise might actually be more favorable.  Interesting.