The upcoming release of Adobe Drive (to be released within the next few weeks) is designed to work with the supported Creative Cloud desktop applications. The supported CC applications (PS, AI, ID, BR & IC) are still installed directly on your computer. You will be able to continue checking in/out content from your Adobe CQ Server utilizing this new version of Adobe Drive.
Overall, you might find the Adobe Creative Cloud - FAQ helpful: http://www.adobe.com/products/creativecloud/faq.html
With regard to your question around the development of Adobe Drive for the Creative Cloud; are you referring to Drive compatibility with cloud based digital asset management systems? or? Feel free to contact me offline to discuss further: Laurel