funny this topic cropped up.. i was wondering the same thing. i had always had all of my media on a separate computer setup as a nas, etc. well, i was doing some system maintenance and like an idiot lost all of my media. just means i'll be re-ripping for weeks again, but it made me rethink my setup and consider getting a spotify/rdio/grooveshark type of audio setup.. i had always been a snob about audio quality (everything to flac and alac), but since i was just using audiogalaxy or subsonic at work to listen to my collection i was getting lower than lossless quality.
all that to say, i'm going to stick to keeping all media on the media/file server, but considering not re-ripping all of my music, only the stuff i'm actively listening to, and supplement it with one of the above mentioned all you can eat music services.
but having the 512gb ssd in my rMBP does give me the flexibility of keeping some stuff on here if the desire arises.
as far as video goes, bluray ripping takes a while

no way around having to do that all over again.
long winded response, but would like to know what you ended up doing.