If you are interested in RAID storage, look at the buffalo terastation--1 terabyte (1000 GB) of storage. Think of it as four 250 GB drives. In a RAID 5 configuration, you only get about 700 GB of storage, but if any individual drive fails, you can recover all of the data. The terastation is about $1K.
Other benefits of a terastation: (i) its designed to be on 24/7; (ii) its a NAS--network attached storage--so you can just plug it into your network and "see" the drive from any machine (i.e., its a file server); and (iii) if you go the squeezebox route, the terastation apparently can run slimserver, which is needed for squeezeboxes to function.
Do the CAT5 cables connect to a patch panel in your basement? Might want to ensure the panel is wired up. My house came pre-wired, but the panel wasn't connected. You will also need a network switch or router (get a switch) to complete your network--one that does DHCP. Mebbe $50 or so.
Good luck!
Other benefits of a terastation: (i) its designed to be on 24/7; (ii) its a NAS--network attached storage--so you can just plug it into your network and "see" the drive from any machine (i.e., its a file server); and (iii) if you go the squeezebox route, the terastation apparently can run slimserver, which is needed for squeezeboxes to function.
Do the CAT5 cables connect to a patch panel in your basement? Might want to ensure the panel is wired up. My house came pre-wired, but the panel wasn't connected. You will also need a network switch or router (get a switch) to complete your network--one that does DHCP. Mebbe $50 or so.
Good luck!