Amazon Silk - Revolutionary Concept or Major Invasion of Privacy?

I am looking forward to the Kindle Fire, and intend to buy one as soon as it comes out. I think the screen size is too small (anything smaller than the iPad is too small) but the price point can't be beat. I think it will be a game changer, and at $199 will knock out a lot of the non-iPad competition.

I don't think it will harm Apple too much, as I think it's for the crowd that can't see spending $500 for a tablet at this point.
Especially one that doesn't allow Adobe's Flash! So I think a whole new crowd of people who don't own a tablet will come rushing in. Now on to Amazon Silk.
This revolutionary new web browser sounds like a game changer as well.

It promises to speed up the web for mobile devices by channeling all web requests through their EC2 cloud.
Who doesn't want a faster web experience? But-this comes at a price. For one, Amazon may change the look of web pages (the example they use is sending a lower-res image to a mobile device), and who knows what else they might optimize.
The headache comes in when you setup a web site to look one way and Amazon Silk makes some decisions for you that you can't control.

Getting a website to look good in IE7 is bad enough! The other thing you'll notice is that Amazon's EC2 cloud is essentially caching the entire Internet.

The cloud will hang onto files and web pages for you.

I wonder how the cloud knows when you've changed your website and when it needs to go to your site and get a new copy.

Their cloud is also keeping tracking of a complete history of your web experience, in an attempt to try to anticipate your next web page visit.

Sounds promising (again, a faster web experience) but all of that browser history in EC2 has to mean something.
It has to give them some sort of power. Google, beware! Amazon is a stone's throw away from creating their own search engine and ranking system based on site popularity. Amazon will know exactly where you surf and for how long you spend on each web page, because all of those requests are funneled through EC2. Google doesn't always have that information. Not all web requests go through Google off of their search result pages. If you search for 'inalign' in Google, we'll come up, and if you click our link, Google knows about it.
They also know when you surf around our site, because we have Google Analytics installed as well. Amazon's Cloud will know everything regardless of whether or not you have tracking software (like Google Analytics).
What about information that is proprietary to your company? What if you're logged in to your company's CRM web application.

Is Amazon caching all of that data too? If so, who is guaranteeing it's security? What if someone hacks into the EC2 cloud and steals data from this cache? There are too few details on Silk to make a definitive choice, but in the coming weeks I look forward to finding the answers.