For the haters:
SaaS = Web 2.0
IaaS = VM
PaaS = Don't have a single dismissive equivalency for this one, but I'm thinking one of those point and click things where you move blocks around to make a "program".
For the parent, thanks for the concise descriptions that I can point to...and I do consider all the *aaS buzzwords since they generally describe things that have existed for years. The *aaS trick is mostly automation. I'm thinking "click button and get a VM" vs "poke admin and get a VM".