Has anyone tried using cloud server as a video library?

I finally restored my software to allow me to rip/compress/burn (AnyDVD, Shrink, Imageburn). Thing is, I don't really want to burn that often as blank DVDs clutter the house, get scratched, etc. I do like having it available though for occassions my wife wants to share a video to a friend. What I would like, is the ability to put all my videos in a single repository from which I can access them for watching on my computer. I only have 2TB harddrive which is already about half-full with my music and other stuff. So here is what I want to do:

1. Rip DVD to computer with AnyDVD
2. Upload ripped files to cloud
3. Delete from computer.

When I'm ready to watch a DVD:
1. Find it in my cloud storage
2. Download the files to the computer
3. Use Shrink preview window in full screen mode to watch video.

Does this seem viable? Anybody try another approach to similar digital storage?

Another question I have along these lines is the USB port on DVD players. Could I copy the ripped files to a flashdrive, plug it into my DVD player USB port and watch it on the TV?

I'm trying to find a good solution to building a library without cluttering the home.

Also, would this similarly work if I ripped post-shrink DVDs to my computer (ie eliminate my current physical library by transferring to the cloud), or would there be problems due to the different composition of the post-shrink files?

PS - I tried running the movie off a flashdrive on the DVD player after posting the above. Appeared to work, except it appeared to read a tad too slow so the audio became choppy. Was this likely due to the flashdrive speed, or the USB port of the DVD player? Would it probably play better if I linked directly between my computer and the DVD player?

Again, any advice from folks who have mastered some similar attempts at digital storage with optimum playback would be appreciated.