Do you have audible.com? A question or two...

I've been thinking about subscribing to Audible.com, but I have a few questions.

First, they say that you "own the audible book forever." Does that mean that it has been downloaded on (or downloadable to) your computer? Or is it sitting in the cloud somewhere so you can access it for all time?

What do you like about it?

What do you not like about it?

If there are other snippets of info you could share, I will greatly appreciate it. Thanks in advance.