If you want to back up to DVD, that is 4.7 GB per DVD. That is a pretty big library. My Sony has 2GB memory and currently has about 2400 books on it.
Any decent backup software has the ability to back up over multiple DVDs or other media.
And finally, I agree, I use two external hard drives. And have my internal hard drives set up for mirroring (same data on two separate drives).
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