I've become obsessed with the "12factor" app approach everywhere in my digital life, so that if a device ever disappeared, was stolen, or died, I could get a replacement fully operational without any problems. Like an app-server dying, just launch a new one and it will bootstrap itself.
I'm kinda crazy with my new "homelab" and started it off with an old 2U Poweredge I got on eBay for about $200. It's cheaper than a Synology/Drobo, has room for 6 drives, and the dual quad-core processors + 16GB of RAM is pretty cool too. It's running FreeNAS right now in a VM with a 3TB ZFS pool. I've created an AFP share that appears to my mac as Time Machine and over my gigabit-network it does a pretty fast backup. I really like the FreeNAS software. It's open-source, runs on FreeBSD, and the UI/admin tool is built in Django.