Depends what you're trying to store really..
Before moving from my GNex to the DNA, I tried cloud use for a week or so to see if I could live with 11gb. The main thing for me was uploading all my music to Play Music. You can cache playlists so if you're without data you can still listen without streaming. Also have my pictures and videos auto upload to Dropbox, although I didn't have a huge amount it helps. I don't think there's really a need to keep multiple movies on your phone at all times. Flash drive maybe too?
The only major issue I see is some newer games are pushing 2-3gb and can't be streamed. I have 100+gb of storage on my tablet so any games like that go there, which makes for a better experience IMO anyway. I still keep smaller games, Granny Smith for example on the phone.
If you root, backups take up the most space, so I try and keep a single backup if possible. It's a tradeoff for sure, and I wish it did have 32GB internal, but it is what it is and found a way around it without it effecting anything.
Just have to be honest with yourself about how you're going to be using it and go from there. There will always be some new phone in the pipeline that maybe meets your specific needs a little better. Also, remember streaming most content will eat up data, so make sure it works with your plan. I paid outright to keep unlimited, so if you're on a shared or tiered plan keep it in mind.
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