Well the drives are SATA, so no slave and I'm almost positive that there's no DMA on SATA drive either (or rather they basically act like DMA devices to begin with). They're also striped together in a RAID 0 so performance should be pretty good. I don't image the discs first. Is the performance difference that much better that it offsets the extra time imaging the disc the hard drive first? I gotta say, one downside to that is I've gotta babysit the thing while I'm imaging it so that I can start ripping and encoding once it's done imaging. I can't just pop in a disc, hit go and leave.
As far as storage . . . I don't know. I've got about 1.5 TB of storage in a consumer RAID 5 NAS box and 1 TB of it is already filled up, and that is with exclusively compressed formats. If I was just ripping I would have far exceeded my capacity. And I love this thing because it acts as its own Samba server, so I don't have to leave my computer on all the time wasting power in order to always have access to my media, so I'm not especially excited about outgrowing the thing any time soon.
And, frankly, even if storage is cheap right now, my wife is our only breadwinner for the foreseeable future and we're living in an incredibly expensive city. I am an unemployed law student taking $40,000 in student loans EVERY YEAR! Getting a job is out of the question. Not only would it simply be impossible -- I'm up all night most nights reading cases as it is -- but it is not allowed by the school. It's considered a violation of the honor code and you can be expelled for it. I've got a really powerful, fun poor-man's setup going on from all the equipment I've amassed over the past five years, but I'm where I am for the next few years. Spending money to upgrade my home theater in any way right now would just be irresponsible.