It has been essential to me - mostly for sharing documents/working on collaborative things though. As for its reliability, as long as Google doesn't go out of business or have all their servers crash (it's possible) then it will save your stuff forever. As for local saving you can do that by going (in any specific google doc) to: "File>Download as" and it will DL to your hard drive in a file format of your choice (.pdf, .txt, .html, and so on)
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Like an arrow,
I was only passing through.
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