Do you provide an API or do I have to use your client?
Does the client run on 64-bit installations?
Are you really offering storage for $10/100GB/month or $100/100GB/year? Sounds quite inexpensive to me.
Do you also give discounts to students with non-edu addresses (e.g. ac.at = education subdomain for Austria).
How well is the data of your customers protected against hardware faults? Your website mentions a distributed filesystem that tolerates the loss of many nodes, but not how it does that? (erasure coding, mirroring, ...?) Also, do you have geographically distributed storage nodes?
If I view data via the web interface, the password needs to be on your servers. A mail provider, Hushmail, also did not store user encryption passwords, they did actually not even require the password to be on their servers for decryption, they used a Java applet. Due to a court order they had to turn the Java applet into a trojan to spy on their users. Obviously, you face the same danger (court order that requires you to store the password for law enforcement when the user logs in on your website). Do you offer a "Warrant canary" similar to rsync.net? http://www.rsync.net/resources/notices/canary.txt