As a snapshot of our times it is important to point out the prices of such things. It's been 8 years since anyone has given consideration to the Terabyte around here.
As of today's date a 1TB* hard disk drive now sells for roughly $100 dollars, about $300 on the high end.
This has some startling implications:
The price of a fully backed up Hospital Library: ~$500
The price of a carefully stored Academic Library in PDF format: ~$700
The price of a copy of the Library of Congress: ~$1200 dollars
The price of a file server to store several thousand porn DVDs: ~$5-7000
And in 2012(maybe as late as 2015 if there is a prolonged economic downturn). All of those institutions will be able to double the size of each of those massive volumes, for half the current price. The physical storage of data is approaching the point of being a sidenote. In a decade we may have hard-disks that could store all the data that will, by that time, finally be coming out of the LHC.
Of course by that same logic, by the time anyone else makes a write up here we will be able to store the entire human species's personalities in one large database for 50 bucks.
*Note: 1TB refers to a decimal number of bytes, because then you have to pay ~10% more.NyaNya