I have a simple solution for the moment -- all photos on my computer, which is a laptop with a 500gb drive in it, and all of them on an external hard drive at another location, so I'm protected against my house being robbed or burning. I'd be screwed if:
- There were a fire or robbery while I was visiting the other location
- I lost my laptop drive and then the external drive also decided to fail
I used to also keep a second backup on a computer here at home, giving me three copies, but I stopped that.
For my external drive, I've been using Microsoft's SyncToy, which does a great job of "echo"ing pics from my laptop to the external drive, but not the other way.
For offsite backup, I've considered using Amazon's S3, but I'm approaching 200GB of photos, which would cost $30 per month. Maybe it's worth it, though. Another solution that's cheap is DreamHost. They give you 50gb of free backup space, and you're allowed to use it for anything, including photos. I can provide a link if the group wants one.
EDIT
Another solution that's interesting is Google Storage. It's become very cheap! The lowest tier is 20 GB for only $5 a year (that works out to only about 2.1 cents per GB per month). There are other plans you can see at Google's page. If you install Picasa, you can have it sync all your photos automatically. It seems that it will work with RAW files, and some limited video capability as well. And if you experience failure, you can just restore the files in their original hierarchy. I think it's a good deal. And there seems to be a promotion right now where you can get a free EyeFi card. Check out the page.