Use JungleDisk...
A number of apps like this have existed for ages, I personally use JungleDisk which is based on amazon's S3 storage system, that way the data is secure and stored with Amazon (less likely to go tits up) but Jungledisk provides the interface and software (including backup) and a drive letter concept... if jungledisk goes then i can still get at the data using any other s3 app... sounds like a better solution to me... plus the prices per gig are a lot lower... the pound sliding isnt helping tho...