"What is the difference between cloud based and cloud hosting?"

Cloud Based = it's on the servers of the business that owns and runs the functions. Example: Google Docs live in the Google Cloud. You access them from your own system (phone, desktop, whatever) through the Google-provided portal.

Hosted= instead of being installed on your computer, the program is installed on someone else's computer. You pay them to be available to you through their portal. Example: MS Office can be the Cloud version or installed to run locally.

But the Office tools are programmed to have the similar "look and feel" no matter which you are using. That won't be true with ProConnect vs ProSeries. They are different programs. So this is more like asking "Should I take the bus along with everyone else (ProConnect) or drive my own car (ProSeries installed locally) or have a private car with driver come to my door (Hosted ProSeries)."

The Hosting service will make all the difference in your experience. I would never work with Right Networks.

And there is a big data center in Ogden UT that had a fire over Easter Weekend, affecting service providers such as Webnx and Gorilla Servers, that has been down for most of last week, doing disaster recovery. You want a provider that has co-location. If the servers in UT go down, the server farm in AZ or CA picks up from the latest mirrored status.