Oh, we've been having a love affair with this color lately. We like to think of it as the grown-up version of teal; it's a little bit more staid, but still super-saturated blue with a hint of green. And we are crazy about this combination, as seen on a house in lower Pac Heights...
The gray really grounds the look, allowing the blue to pop without looking out of place alongside the more traditionally-painted houses nearby. We love how modern this color combination is, yet it is not jarring by any means.
And here's an example of how the colors translate indoors. The black accents add a moody vibe that we like.
Bottom image: Joanna Henderson
Must-See Small Cool Homes: Week Two
Beth's Romantic & Retro Residence
Good Food to Share 
The Big Book of Small, Cool Spaces 
Apartment Therapy Presents 
The Eight-Step Home Cure 
Shaw's Original Fir...
How to Cook Moist & Tender Chicken Breasts Every Time
How To Cook Tender, Chewy Wheat Berries on the Stovetop
I enjoy this color combo too. I used it in a basement bathroom in my old house last year:
http://www.flickr.com/photos/nikolc/2856651698/in/set-72157604243073970/
Haha! I've been having a hate affair with Pacific Blue for the last 18 years! It's the colour they've painted the cast iron parts on my building in NYC, a big red brick carriage garage from the early 1900's. I think it's the teal element in the Pacific Blue that just drives me up the wall; I find it garish and vulgar. The Puck Building, an NYC landmark, has the same paint scheme as mine, and it also makes me wince every time I see it.
I think the grey and Pacific Blue are much better together; the lower photograph on this page is very beautiful, more for the grey than for the blue.
Thanks for teaching me "Pacific Blue" - it's so much easier to hate when you have a name for your hatred!
To end on a positive note: compared to my hatred for teal, my hatred for Pacific Blue almost reads as "love"!
This color combo is soooooo Seattle late 80s. Gross.
I absolutely love this!