iCloud Drive in Yosemite will act much like Dropbox does now. It's like a special folder where you can put any files and folders you like (with, obviously, some size limits) and access them from any device that can access iCloud.
But that's not all. iCloud Drive is integrated into Mail. That means you can transfer big files with fewer steps.
With Dropbox, you can put a file in your Dropbox folder and control click to create a special URL to that file, then e-mail that URL to the recipient.
In Yosemite Mail, you just stick the attachment (up to 5 GB per message) onto an e-mail and send away. If the recipient is using Mail, it looks and acts just like any e-mail. If the recipient is using another e-mail app, they'll receive a link for downloading the attachment.
Discussion of issues related to OSX 10.10 (Yosemite)
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