I refunded my Neptunes a while ago.. but if I was in someones situation I would PREFER they cloud mine to save me $ - unless holding the physical machine to make less profit is what you're after?
Additionally, they could have said "we ran out, sucks, we'll ship them when we can" but they didn't - they are giving you the hash rate they owe you + no electric fees.
They offered a second miner from batch three some time back in order to compensate for rise in difficulty and stop everybody from refunding; they now require people to agree to a new set of T&C to take the cloud hashing option. The small print in the new T&C removes the second miner so nobody in their right mind would agree to it.