I would point out that if you are trying to decide between a backup and raid1, do raid1 instead of a backup... but that is a false choice!
You should ALWAYS do both!
The only way to protect against corrupt data and power fluctuations is to use ZFS or the google FS. Since google is keeping its file system as a trade secret, you are left with ZFS. originally solaris only, it is being ported to freeBSD and the server class macs (in snow leopard i think).
Anyways, issues be beware:
1. bit flip, a random ray of solar radiation will flip your bits on magnetic media...
2. A virus can still damage your files
3. accidental or intentional user deletion.
4. random errors in writing data, the best of spindle drives say they will write one byte out of every terabyte wrong. For this figure to remain where it is for so many years would have required manufacturers to make tremendous advances in reliability as drive sizes went up. I suspect that like the MTBF (137+ years on any drive) it is grossly misleading. Basically expect random and silent data corruption...
And as i said before, all of those can be dealt with by a good file system... only two in the world that do though are the google file system and ZFS