Any experience with Panda Cloud antivirus ?

Dec 2007
I've read that Panda Cloud Antivirus is a new strong alternative to well-known free antiviruses such as Avast, AntiVir Personal, AVG Antivirus, Microsoft Security Essentials and so on ... (another good free anti-spyware tool is Malwarebytes, sometimes it can recognize malware that other antiviruses can't detect).

Have you had any experience with Panda Cloud and is it as reliable as say Avast Free (best solution for me so far) ? Are there any known associated vulnerabilities associated with the fact that the antivirus scans happen over the Internet, as opposed as locally on your computer ? (actually maybe an advantage would be that the antivirus software can't be attacked by a virus). What do you think ?
Jun 2012
Panda Cloud is an antivirus that can detect trojan, worms, jokes, hacking tools, spyware and e.t.c
I have no personal experience with this antivirus, but I have heared that this is a useful software.
I have also heared that this is not that good at virus-scanning and trojan-kicking, but have some extra facilities that can detect some malwares which are almost invisible to many anti virus softwares!
It uses an internet access for an up-to-date information about virus and worms, it can also use a local cache that have informations about most common threats in circulation.

When version 1.0 was released on November 10, 2009, PC Magazine reviewed Panda Cloud Antivirus and gave it an Editor's Choice Award for Best Free AV.

Thats all information I can provide.

(1) Wikipedia, Panda Cloud AV
(2) Review...