I think most segments against online password companies is that they get hacked so often. The most practical problem is having to switch all your passwords around after such a leak occurs, which seems to be more and more permanent these days.
Contrary to popular belief, the best reason to store passwords offline is actually convenience, so that you don't have to change them so often (your single password dump is not a target, but all people's data is).
Which version are you currently using? I used to have the same setup back in the days when 1Password was only a standalone app, before it became a SaaS as it is now.
Can you please explain how you have organized your current setup?
