Well, I'm doing better when it comes to protecting my images.
1) I now have a Belkin UPS protecting my computer and various hard drives.
2) I have installed Leopard on my Mac and will be using Time Machine for efficient backups.
3) I purchased a Drobo after doing some reading, and loaded it with 4 one terabyte drives. As Drobo recommended, I made a single 4 terabyte virtual drive, then partitioned it into one 80% chunk, another 20%, this move so that Drobo never goes into 85+ territory which is I gather innefficient and the way that Time Machine works is when it runs out of space, it starts throwing things out. This will now happen before Drobo goes into overdrive.
4) I have backed up all my edited image folders and detached the drive after.
5) I have backed up all raw files and returned the hard drive to my office (ie. offsite).
It cost me about $1500 for the hardware - certainly in the past this was an amount I balked at spending but the time had come...
Alternatives would have been a 2 terabyte disk but it wasn't going to be that much cheaper and wouldn't have survived a single disk failure, which the system I have will do.
Are there cheaper ways? - sure - are they as simple? - probably not - do I regret spending the money? No, it needed to be done - like getting a new roof - you don't really get to enjoy it, it just protects you.