I think you got the cooling problems backwards. In vacuum it's a lot harder to get rid of excess heat than it is inside an atmosphere. Latency might be a bit of a bummer.

Here you go:

http://www.tak2000.com/data/Satellite_TC.pdf

A government doesn't have to take down your satellite if they can persuade you to do it for them. Jail time can be a powerful persuasion.

And if your orbiting data haven is objectionable enough there's always http://en.wikipedia.org/wiki/Anti-satellite_weapon

Right now none of the major satellite-owning countries will ratify an agreement on the sanctity of space - and specifically satellites.

In real terms that means any country could shoot your satellite out of orbit regardless of whether you're obeying any given country's law or not.

The Outer Space Treaty specifically says that no country can claim sovereignty over outer space or celestial objects, that countries retain ownership of anything they launch into space, and that they are liable for damage they cause to any other countries space objects (or people on them). The treaty has been signed and ratified by all major space faring nations, including the US, Russia, China, and all major European countries.