(There are, however, quite a few ARM development boards comparable to Arduino in price...)
LPC Xpresso for example, $29.95 with full (real) IDE.
As for the cloud development, frank set me straight on that before and it is possible to develop off line with a makefile etc. But that is not even mentioned on their site and in fact one comment from an admin person I saw in a forum post was something like "we do not encourage it".
I think they are losing a lot of potential customers because of this "cloud only toolchain" impression.
Rob