JIRA Cloud is nothing but Atlassian is hosting same jira application on their own infrastructure and prohibit you to control some of the system admin tasks. So if we talk about native features of JIRA, it is same on both JIRA Cloud and JIRA Server (Obviously if you are using same JIRA Server version which is used in JIRA Cloud).
Brendan, One important note here is, JIRA Cloud always runs with latest version of JIRA and if you are planning to host JIRA locally then it would be quite difficult (for me its impossible) to keep up with JIRA Clouds upgrade lifecycle.
