I've a self hosted setup, never tried the cloud solution. In my opinion the distance is not important in daily replications and small restores, buy it will become important during the first replication and in case of bare metal restores or huge restores (and when you are in a hurry too
. I have the main backup server in the same datacenter and on a 1 Gbps connection and the secondary in a different datacenter with a 100Mbps link. The speed difference is huge.