I think Igorek has addressed your SQL Azure concerns. You seem to still have questions about Tables vs Blobs, though.
In your case using Table storage would be annoying. Each property/column in ATS can be at most 64KB, so you would have to split the documents across multiple properties and then reassemble them. There is also a limit of 4MB per entity, which would be a problem. Blob storage has neither of these limitations.
I would tend to use Azure Table Storage when you have smallish entities with many properties that need to be stored and queried separately. So it works wells for stored objects, or small documents with lots of metadata.
Blob storage works better for things without a ton of metadata. It's good for things that might work well as files on a filesystem.