If you ever get a chance to poke around a large corporate data center -- see if you can check out a SL8500 or one of the TS3500 units.. They're the big things with all kinds of flying robotic arms and crap-loads of storage. Just don't try and walk inside one while the robots are moving.
For reference -- an LTO5 Tape holds about 3TB of data. (and has decent compression -- so that could go much higher)
It may not be a bad idea to borrow old tape-drive ideas for modern technologies - I mean, hard drives are ever slower compared to cache or RAM, and they are faster at linear seeks (like tapes) than random-access. Hard drives are the new tape?