Any NAS will work without your computer being on so long as you have a network (a wireless router can be had for under $100). The Music Vault is double the price of a comparable NAS you could get at any Best Buy (Maxtor, Buffalo, etc). Also, I don't see what drives are in the unit or what the configuration is (i.e. is it RAID capable?). The real question seems to be whether the Squeezebox specific features are enough to entice you.
An interesting concept to be sure - I hope someone here has one and can report on it.
An interesting concept to be sure - I hope someone here has one and can report on it.