Well. Here's my take.
There are a number of text analysis SaaS offerings such as OpenCalais, AlchemyAPI, Zemanta, and OpenAmplify. They've all got impressive science under the hood, but none of them are accurate enough to be useful.
I spend most of my time these days thinking about why that is and what to do about it.
For systems to do better, they'll need to incorporate world knowledge; they'll need to test different interpretations of a text and select the ones that "make sense". This is likely to be a form of statistical inference rather than Cyc style logic.
Based on some systems I've worked with, I'd estimate that a space optimized "background" knowledge base that can estimate satisfiability in the common sense domain is on the order of 10-100 GB. It will puff out to at least an order of magnitude beyond that in the process of creating it.
Few users will have the ability to create a KB of that type, and it would be a serious thing to download and install.
Hosting the services of that kind of system in a SaaS manner makes a lot of sense.