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@freddo
my 2p: external dedicated storage is generally more expensive, less reliable, slower read/write, & more stealable. i use mine only for 2nd level backup now (i.e. warm stand-by). 3rd level being off-site DVDs in a fireproof safe.
If you do use external storage, install a product like easyrecovery, so you can deep scan the drive *when *it goes bad.
http://www.pcworld.com/article/id,123728;page,1/article.html