That is correct - you will need an mcGateway120 and you'll also need to move your mcMod120(s) to the latest version as well.
mcCloud will be released publicly soon - we are finishing some development internally on mcCloud.
ALSO - we will be offering discounted equipment to our existing users and forum members which will allow you all to move to the new system. keep an eye out for a note on the details of this deal - you should see it very soon!