I was going to do the same, until I realized the usable space on the 8GB is more like 5.9GB. So I upped it to the 16GB (probably closer to 13GB), and I've got my various clouds as well.
I've been hearing no HDMI compatibility, and mixed reports of people saying OTG will work/won't work. My guess is that it'll work eventually, perhaps not right away.
In case it's still slow, uninstall a recent application, or do a factory reset like the others said. I like to remove my battery and sim for a few minutes from time to time, which resets my connection to AT&T.