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I suspect Apple will at some point have to introduce a repair program for iMacs with those HORRID Seagate 3TB drives... they are garbage.

I opted for 512GB of SSD and have a Thunderbay IV with 4 x 2TB HDDs in RAID0, delivering 720MB/sec reads, mirrored hourly to a RAID5 array.

OP said they have various USB2/FireWire enclosures. I would suggest they invest in a Thunderbay or two :) Pull the drives out of the old enclosures and put them in the Thunderbay(s).
 
I suspect Apple will at some point have to introduce a repair program for iMacs with those HORRID Seagate 3TB drives... they are garbage.

I opted for 512GB of SSD and have a Thunderbay IV with 4 x 2TB HDDs in RAID0, delivering 720MB/sec reads, mirrored hourly to a RAID5 array.

OP said they have various USB2/FireWire enclosures. I would suggest they invest in a Thunderbay or two :) Pull the drives out of the old enclosures and put them in the Thunderbay(s).
Best solution, but expensive:
- 512 SSD option: 300$
- Thunderbay 4 with HDD: 824$
+ the RAID5 array for backup (3 to 500$?)...

1124$ without the back up array...

For 150$, I'm very happy with the 3TB Fusion Drive option. It is a good compromise for me, and I prefer that to a tiny 256GB SSD + a crappy, noisy and slow external HDD.
But if I were rich, of course I would go for the 512 or 1 TB SSD + TB external storage.
 
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