The Daily has put out a high-level infographic showing what the new Apple iCloud does and doesn’t do.

There were a good number of items announced and previewed yesterday during the WWDC 2011 keynote, but this graphic puts some of that MobileMe vs. iCloud conversation to rest. At the end of the day, the best news is that iCloud is FREE.

Hopefully you all get your $99 subscription fees refunded soon.

[H/T Peter Ha]