Mimberman, the storage recommendation by Edesliva is a good one. If you can get 1TB or .7 TB (700GB) usable of RAID 5 storage for $670 you should jump at that. The RAID 5 setup basically means you can have one hard drive fail and not lose any of your data until you can get around to the replacing the disk. As others stated, don't skimp on non-redundant storage. I've just setup my AE based wi-fi music server, but haven't listened to it much so I can't comment on the sound quality between it and my cd player. One thing that I did find, that I feel every AE owner might want to jump on in is a high quality optical cable. I picked up a Van Den Hul Optiplexor II for ~ $80. You can order it with the digital-mini on one end. It looks to be much better quality than the old monster cable that Apple touts and many others use. As an FYI, if you have an optical cable you like, you can order the optical-> digital mini converter from Parts Express for ~ $6. Of course they hit you up for another $7 in shipping charges.
Good luck and let us know how it works out.
Good luck and let us know how it works out.