What is your backup plan?

Welcome!

Personally I'm a fan of Time Machine and Carbon Copy Cloner. I run both so if one fails I'm covered. Having a CCC bootable backup is nice too.

A couple of threads that may interest you ! ! !

http://www.mac-forums.com/forums/switcher-hangout/196606-backups-backups-backups.html

http://www.mac-forums.com/forums/switcher-hangout/245794-official-backup-faq-start-backing-up-now.html

Thanks

I was wondering about a NAS, I cant find a good thread.

I would like to use it to back up and also stream some media.

Your initial plan is ok. Better would be if you use T.M. and CCC and if they were on different externals (requires purchasing another external HDD).
Best would be what I just mentioned plus periodical backups of important docs and media to DVDs.

I have four drives sitting beside me here on my desk.

One is a Time Machine drive that backs up my boot volume inside my laptop.
The second is a clone drive I use to do (more or less) weekly clones of the boot drive.
The third is a "media" drive (all my converted videos and other such large media files)
The fourth is a clone of that drive.