Here's my proposed 2011 iMac 27" setup for my DAW, light business use & entertainment.
1. 1 GB stock internal HD. For music, videos and some apps.
2. 120GB Other World Computing installed SSD for system and main apps.
3. 2XTB external FW800 7200 RPM Hard Drives for DAW plug-in libraries and audio recording.
4. 3TB external 7200 RPM FW800 hard drive partitioned into 3 1TB hard drives for back up using Carbon Copy Cloner.
I already have a 1GB external 7200RPM HD which is currently the back up hard drive.
I also have a 400GB external FW800 hard drive for back up of downloaded DAW sample libraries.