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I'm also employing a removable hard drive bay for long term storage - I'm a bit wary of DVDs after the CD-R fiasco years ago, where the reflective layer would start peeling after only a few months.
any idea of affordable and reliable long term storage? otpical disk can get scratched and just plain wear out naturally, and HDD are definately not reliable, flash medii are not affordable... i have yet found a good solution.
Hard drives are pretty reliable if you're using them more often than once a year or two.
They're great for nearline storage and backup, but probably not the *best* choice for true long-term archival. There are just too many mechanical things that can go wrong with them.
DVD-Rs, as long as you are careful and don't scratch them up, should last at least 5 years, maybe much more. If you have things you are trying to archive long-term (say, personal photos or videos, or electronic documents), what I would recommend is to put multiple copies on DVD (store at least one offsite, to protect against true disasters), and every 3-5 years, burn them onto new media. This also gives you a chance to condense them onto newer formats (such as Blu-Ray/HD-DVD) at the same time.
Frankly, the best thing for real long-term backup archiving is still tape. DAT cassettes (20GB capacity) are fairly cheap (maybe $.25/GB in bulk, only slightly more than DVD-Rs), extremely rugged, and can last a long time (as long as you don't demagnetize them somehow). The drives are also practically guaranteed to be around forever, since they're so widely used for backup (they might not be cheap, but they'll be available).