If scalability is what you are after, then you might consider Sql Azure Federations instead of the Azure Table Storage. The Federations feature has been made available starting with December 2011. You can find a good overview here.
With Sql Azure Federations you have better control on the amount of resources you are using. In Table Storage you are encouraged to create many partitions so that the underlying engine could at some point distribute your data on multiple machines and you will get an increased throughput. However, a partition is just a hint for the Table Storage engine. It will not necessarily move the data to a new machine. It might do that, based on the usage and on its internal algorithms, but you can never be sure when it does. With Sql Azure Federations you are the one controlling the number of instances you are using. You will control the balance between a small number of instances ( = small cost) and a big amount of instances ( = big throughput).
With Federations you can still enjoy most of the benefits from relational databases. That is you can still have transactions, joins, indexes. In fact you can have all the functionalities from a standalone Sql Azure database. The only limit is that you can only act on one federation instance at one time (at the moment the is no built in cross instance select support inside a federation).
It is true that you can increase the throughput from Table Storage by creating multiple accounts but you will have manage that manually. You will be responsible for moving the data between the accounts when making a split and for implementing the application level logic that would route to the correct account when searching certain data. That is managed automatically with Federations.
Probably the only reason to consider Table Storage is related to its price / GB which is a lot lower compared to Sql Azure (table storage pricing described here, Sql Azure pricing described here). So if you are considering to store huge amounts of data, then you might indeed consider the Table Storage (as long as you can live with its limitations).
Strictly from the throughput perspective a single instance of Sql Azure can provide a similar performance with a Table Storage account. As long as you can obtain a good distribution of the requests, with Federations you can multiply the throughput of a single database with the total number of used instances.
If you are interested on some numbers, a few months ago I have made a benchmark and run it against a federated database. The results are to be found here.