As I mentioned in another thread, I use the HP MediaSmart Server at home. It does an automatic backup every night of any computer that is connected to the network. It saves (default) the last three days/weeks/months of backups.
I have it set up where it mirrors data (RAID 1) across all drives for regular storage of photos and important documents. Everything else (movies/music/etc.) is standard storage.
For redundancy I also copy photos and the occassional backup to a bookdrive and my laptop. Those copies are stored on the hard-drive at work as well.
At work, we use an offsite (online) backup for important data.
Yes, I have lost irreplaceable data before. It's amazing what a loss can do to your security.