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Why would archiving via tape be easier for a home camcorder? I'd imagine having a large hard drive and just being able to copy the raw files around is quicker and easier for archival then having to go through the tape -> file process via firewire/usb.
A waste of HD space for one, why have all your material spinning on a platter somewhere when it could be in a little box on a shelf.
What's keeping you from putting the hard drive in a little box on a shelf?
That's exactly what my backup plans are. I now have digital forms of all my wedding and honeymoon photos and videos. I plan on getting a couple 120GB drives and storing one drive at home and another at work.
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Matt