Best option for long-term music storage?

I'm a bit of a nut about using CD-quality audio tracks in iTunes instead of MP3s. I also expect that keeping archives in this format protects my investment in CDs, which will eventually degrade and become uncopyable.

I don't download music, illegally or otherwise.. I just rip my own CDs (and my dad's), all of which were purchased before the MP3 format even existed (so there's no DRM).In particular, I've found that a dying CD can be rejuvenated with one of those resurfacing tools just well enough to combine with iTunes error correction to get flawless rips out of a CD that will not play in any normal player.

The problem, obviously, is that this is lot of data. The collection as ripped so far is too big to have on an internal disk of any computer I use. I have found that DVD/CD are a poor archival format as many of the discs pass verification but then end up as coasters the first time I try to pull something back. (When this happens, I have to rip the original disc again.) Furthermore, it would be preferable for whatever long-term storage option I use to be accessible via ethernet, USB, or other connection so I can pull stuff from it as needed.

Long story short: it seems like the best solution is one or more external RAID enclosures running RAID 1 with 2 disks per set of data? That way I could have reasonably good protection against drive failure, wouldn't have the data loss problems that go with inexpensive removable media, and could keep the storage powered down whenever it's not needed.

Thoughts? I appreciate any comments posted.