Coincidentally, I requested my data on 11/22. They immediately sent an email saying they were preparing it and would get back to me in a few days. I still haven't heard anything. That just speaks what you should count on if you need your data quickly.
It's great that you have a backup of everything that is in your iCloud. I don't know if I do. I don't know how to ensure that everything that is in iCloud has been downloaded. I think you're suggesting you are sure it all has. But, "sure" is subjective. I just require a much higher confidence level before I use the word "sure".
I bet we're all violently agreeing, but just focusing on different things. Just to clarify, my wife and I have home businesses. We both have documents from clients going back years that must be preserved. We do need enterprise level confidence. Cloud solutions that offer to offload your data to save space introduce a wrinkle.
Here's another serious liability. If you use Dropbox and you inadvertently turn on the feature that backs up your documents and also have iCloud storing your Document folder, you will likely lose data. This happened to my daughter. I've lost track of the page that I originally read about the issue, but check
this out.