If you're using PVR software on your HTPC, & don't particularly feel like building up multiple TB's worth of hard drives, then head on over to BoxGods & read their take on how to make the most out of your measly 500GB. Never thought I'd say that one...

"As an example, Sci Fi Friday has three shows I watch that are an hour long each. Recording them with my PVR software of choice, SageTV, and at a good quality, generates three files 2GB in size EACH--for a single season of those three shows. We're talking 100GB of disk space. So, I need to edit out the commercials, and compress them."