For those of you NOT doing regular backups, all I can say is rsync is your friend!
I used to have my servers at CIHost (quite possibly the worst hosting company in existence - 3 HD failures, numerous power outages, bandwidth outages etc).
My best uptime ever in the 2 years I was with them was 70 days. Anyway, they finally killed my HD for the fourth time and I had had enough - and needed to stay in business too.
I called The Planet (so far one of the best hosting companies ever) - got a server set up in a few hours and stayed awake for 24 hours transferring sites - thank goodness I can program otherwise it would have been 2 days or more.
The thing that saved my bacon was a daily Rsync, full backup of all sites and database to a server at my home, hanging off a DSL line.
These days I am paranoid. I do a hot backup via rsync to a secod drive in the server every four hours and do a full rsync every night to my home based server. I am also looking at setting up a third server for "round robin" serving and backup.
As I said, rsync is your friend 
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