iTunes Nested Smart Playlists and iCloud Status Field

With the knowledge of how to create nested Smart Playlists in iTunes, how about using this along with the new-ish iCloud Status field. The goal is to find music stored locally on my small SSD drive but has a match in iCloud via iTunes Match. This way I can delete the local versions of the music and rely on iTunes Match to stream the very same songs.

Now how to construct the appropriate Smart Playlist…