If you choose not to synch online then you have the same functionality of ver 2 (except portable sync, I haven't tried that but I notice in a post above that it is gone)
My main usage model is synchronization via flash drive between home and work. If I don't want to or can't use the online option, then I simply can't use my normal workflow anymore. End of story.
Let me also point out that they will afoul of people who genuinely don't care, but are constrained by SarbOx, HIPAA, or other regulations such that they can't
entrust the data to anyone.
I think they're making a major marketing blunder. The people interested in their software will hate the online model. Their application is outside the normal sphere of computer usage (word, excel, email, web browsing, maybe some photo viewing and the like), and likely to be used by power users. This is especially true of those that might be interesting in any kind of synchronization capability. My mom couldn't even describe what that means; only sophisticated users will look at it. But I believe (without any real evidence) that such users are most likely to object to the online model that they seem to be moving towards. Certainly here on DC, made up of people who are much more interested in note-taking software and synchronization, the opinions voiced have been overwhelmingly against the online model.