Amazon has officially launched its Cloud Player service we heard rumors about yesterday. The free service allows US customers to upload their MP3 purchases to their own personal 5GB of cloud storage, and then access that cloud from any computer or Android device. Purchasing an MP3 album bumps the amount of storage you get to 20GB for a year, and there are some paid storage options available as well. You can check out a video on how it all works here.

Apple is rumored to be launching a similar service later this year as part of a revamped version of MobileMe. Apple’s service is rumored to have a $20/year fee associated with it.

What do you think about Amazon’s Cloud Player service? Plan on using it?