Interesting overview of the just completed Netsuite Suiteworld. I'm not sure that I agree with the author's opinion that nobody is buying on-premises software.
I think the buying cycles have slowed drastically. Much much more than any of us predicted. We are to the point of where there must be a real need before companies are enduring the pain that is ERP change.
Also Netsuite is still relatively small - $400 million. They're attracting quite a few VARS so you best go into this with a plan as to how you are going to add value and not just make money on the initial or subsequent software subscription.
http://www.enterpriseirregulars.com/62404/netsuites-suiteworld/