QUOTE (RepoMan @ Jan 5 2006, 04:59 AM)
I was sort of hoping I could just buy some big external hard drive, plug it in, download the lossless files to it, turn it off, and rock on. But, I guess the problem is, there are not yet cost efficient models for storage in excess of 400gb.
Buy two 300GB ones.

(your collection will get bigger)
NB: I back up to DVD with PAR2 data, and also to a 300GB external harddrive. I only have around 400 albums. The hardrive is only half full.
However, you could do DVDs and use two external harddrives (2x300GB = 600GB) and you have a simple, cheap, double-backup system.
It may not be as flashy as some of the others, but if you are like me, and find it difficult to persuade your wife that you are not mental sometimes, then it is at least affordable.
I only recently added the harddrive, as I was uncomfortable with the DVD backups.
Sorry, I really didn't really mean to post to say "I do it this way", and imply that you should also. My actual purpose was to suggest that, if you don't have the budget, there are basic alternatives.
I started by buying a DVD burner for under £40, and 50 discs. A year later I got the harddrive.
You could start with burning to DVD. When you have more money buy one 300GB external drive (belt and braces). When you can afford it, or you need the space, buy a second....