Order of transactions will be implemented in less than a month, according to this statement by Dom:
"we are now adding the ability to have timestamps (which is also necessary for the next big thing that we're working on on top of IOTA)."
Additionally, you say that "you will have to use a cloud ASIC farm for the Proof Of Work". This isn't true, as PoW can already be outsourced to anyone with a GPU if someone doesn't want to do the PoW themselves. Cloud farms will only be needed for cryptos like Bitcoin, which leads me to my last point.
Relative to other cryptocurrencies, IOTA is feeless. The cost of electricity you consume while doing PoW pales in comparison to Bitcoin transaction fees, which at the time are almost $5 to send BTC from Coinbase.
RE: IOTA - The good, the Bad (and the Ugly)