Greetings!

My personal opinion is to go with the DVD burner. I had backed up my collection using CDR. It was the same time I was ripping. Between the ripping and burning for nearly three months continuously, my CDR began to have problems. Even though I had the software set to verify the CD after it was created, and the CD verified clean, I would get read errors when I brought it to another burner or tried it in the same burner after it had rested. It made the lower third of the alphabet "questionable" if I ever needed to restore it.

For bulk copying, I recommend the higher capacity media. At 40GB, you can easily get by with under 10 DVDs. For that storage volume and price, you might be able to make two backups...

Another possibility, if you can do it, is to get a cheap 40GB (or higher, of course) hard drive, install it temporarily, copy the files over to it, remove the drive and lock it in a safe place. This way, you can always recover if you need to, and at a price per GB, that is probably your cheapest solution.