I understand the need for a password vault stored in the clouds, but please, do not remove the local vault!
Symantec removed the local vault for new users of their 2013 product (different for a product supplied by an ISP). A lot of users are angry.
Several users do not want to store sensitive information on a server somewhere in the cyberworld. Other users find such a solution with a well secured server to be safer than their personal computer. I do not know what solution is the most secure, but with an online vault the server has to be running. In case of access problems, you can not reach your passwords.
In my country we have experienced that a company offering online storage of photos, went bankrupt. What with your personal photos/passwords in such a situation?
Please keep the local storage of passwords in Sticky Password. Offer an online solution with synchronization between different devices to the customers who want/need the cloud storage.
And please keep the virtual keyboard available all the time (as in today's version). Also keep the possibility for a portable version per each license.
Edit: As a comment to today's 'Giveaway of the Day' Andrew wrote:
Cloud syn function? Not for Password. But I do not think this is a con but a pro. I do not trust cloud, who knows if someone is sniffing behind, and you will just end up sorry for trusting it too much.