Heretic777: For me, backing up on DVDR and CDR is a very hard habit to break. When its on disc, i feel completely safe from hardware failure. I cringe at the thought of having a 2Tb external filled with archived games failing in 5 or 10 years and no way to recover.
In 5 years, you will probably have bought a 50 terabyte HDD (or whatever they will be called then) for the same price you bought 2TB now, so you can make another backup of the 2TB HDD into a tiny portion of it. I think it will be easier than copying 2TB of data from CD-R or DVD-R disks into that same 50TB HDD. I recently copied a bunch of stuff from my old 300GB PATA hard drive into a 2TB drive, and gave the PATA drive a new life in my TV recording box (which still takes only PATA drives).
Also if you are so inclined and nervous (or the data is critical), you can already now keep two or more identical backup HDDs, It will be highly unlikely that they would have both gone bad by themselves, when you take them out from the cupboard and check them in 10 years.