Nyarlathotep, you will still be able to create new realms (although you will still have to have an internet connection to do that) and edit the realms you currently have created. You will not be able to sync to the cloud, and will have to manually back up your realms to move them from one computer to the other. Also, I don't believe you will be able to add players to your realm, nor will they get Player Edition updates from your realm, unless you have active cloud service.
I could be wrong on that last bit, though, so hopefully Liz will be along to confirm/deny.
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