Panda Cloud antivirus is a Free Antivirus program, that is attempting to pioneer the market of Cloud security. So far my impression of the program is good however it has two major problems atleast that I see.
Firstly, the program requires you to uninstall your current antivirus programs. I figured out a way around this because I really don't like having only one antivirus program, I prefer 3-4 of em.
Secondly Panda scan falsely accuses some programs, like ClamWin antivirus as spyware. It's also accused programs I've made as spyware...
The program is good at keeping you safe however the fact that they don't like you using other services is total BS and that it accused my programs of being suspicious is just a bug, there should be better filtering. My programs have nothing that even sends data to my servers, it only downloads information.
The concept of the cloud antivirus program is you don't download updates it automatically updates constantly, it will send your suspicious files to be checked out then if your suspicious file turns out to be malware the program will remove it or neutralize it, and also anyone else who had that file on their computer has that malware removed for them too. This makes Malware detection alot faster and keeps everyone using the program safer.
I'm an antivirus freak and I have another little issue with the program it doesn't really give you many options to set to make your computer more secure.
Alot of people were complaining recently that there is no "Full Scan Option" but apparently this is to be fixed in the future. They do currently have a thing called quickscan however which really does scan your computer rather quickly especially compared to other scanners.
My personal opinion: I say download it, and keep your current antivirus programs for better security.