A one terrabyte harddrive will hold about 1300 65-70 minute FULL WAV FILE cd's. BUT, I would ALSO back that up on smaller 250-320 gig harddrives just so if one went el broko I'd still have the others. Then quickly transfer whatever you lost from the alternative storage device.
Or try Carbonite or another "offsight" storage facility. It may be too expensive or not allow enough data storage though.
http://www.devlounge.net/webapps/sav...ackup-services