I'd got with (1) over (2).
Solution 1 will solve two issues: iTunes media storage and give you a backup solution for everything in case of failure or deletion.
Solution 2 provides iTunes media storage but does not provide a backup solution for anything in case of deletion, and it only provides protection against a loss of the one drive in the mirrored pair and not your Mac HD.
If you only have one computer, I'd go with (1). NAS is no real benefit for you, and is a lower perf solution for same amount of money spent.
If you have (or soon expect to get) more than one computer you are trying to solve this for, you should seriously consider a NAS for both media storage and backup.
Keep in mind you would still need a backup strategy for the primary media storage on the NAS!
I have three Macs and a PC in the family (the PC is my daughter's hand-me down from my wife and will eventually go away).
All back up to my NAS. All have media storage on the NAS. The media storage on the NAS is backed up to at least one of the three computers, so I always have a second copy of everything, regardless of whether it is on the NAS or not.
My most important data is also backed up to external disk with the intention of rotating it offsite. But I never get around to rotating the offsite disks. So, I'm going to set up public or private cloud solution.
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I'm not worried about getting locked out from iTunes media storage. You'd have to lose both file-level (AFP, CIFS/SMB2, NFS) and block-level (iSCSI) protocol support somehow.
Time Machine, however, is still a minor concern of mine, particularly if it changes once my NAS device loses support from the vendor.
I had a crappy two-drive Buffalo NAS from a few years back. Too slow at everything, feature poor, and poor device support. Gave up on NAS and switched to external drives.
Just recently decided home NAS has come a long way since then and picked up a Synology 413j for media storage and backup. So far so good!
Home NAS, you've come a long way, baby!
Solution 1 will solve two issues: iTunes media storage and give you a backup solution for everything in case of failure or deletion.
Solution 2 provides iTunes media storage but does not provide a backup solution for anything in case of deletion, and it only provides protection against a loss of the one drive in the mirrored pair and not your Mac HD.
If you only have one computer, I'd go with (1). NAS is no real benefit for you, and is a lower perf solution for same amount of money spent.
If you have (or soon expect to get) more than one computer you are trying to solve this for, you should seriously consider a NAS for both media storage and backup.
Keep in mind you would still need a backup strategy for the primary media storage on the NAS!
I have three Macs and a PC in the family (the PC is my daughter's hand-me down from my wife and will eventually go away).
All back up to my NAS. All have media storage on the NAS. The media storage on the NAS is backed up to at least one of the three computers, so I always have a second copy of everything, regardless of whether it is on the NAS or not.
My most important data is also backed up to external disk with the intention of rotating it offsite. But I never get around to rotating the offsite disks. So, I'm going to set up public or private cloud solution.
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My main issue with a NAS is questions about future Mac security updates that could lock it out..I have had issues with an older Buffalo NAS that will not be updated to fix a similar issue with Mountain Lion.
I'm not worried about getting locked out from iTunes media storage. You'd have to lose both file-level (AFP, CIFS/SMB2, NFS) and block-level (iSCSI) protocol support somehow.
Time Machine, however, is still a minor concern of mine, particularly if it changes once my NAS device loses support from the vendor.
I had a crappy two-drive Buffalo NAS from a few years back. Too slow at everything, feature poor, and poor device support. Gave up on NAS and switched to external drives.
Just recently decided home NAS has come a long way since then and picked up a Synology 413j for media storage and backup. So far so good!
Home NAS, you've come a long way, baby!