Lo and behold, that's what I saw today in my techbargains feed: a Buffalo LinkStation Live which contains a 500gb SATA for $199 after rebates. Some quick googling lead to these wiki pages which looked promising: anything from enhancing the stock Linux setup by enabling a few more services to a custom Linux distro (similar to my wrt54 router running linux) to reportedly some work-in-progress for a native Debian installation. Nice!
So off I went, ordered the thingie for local pickup for an additional 5% off and picked it up a little later at the local Circuit City (where visits are seemingly a recurring event these days). The documentation is very brief and insist that you install something on Windows -- just to find that the little box autoconfigures itself just fine. Presumably some network discovery is going to find the assigned dhcp address which is needed for the web interface. A few minutes later, a new (fixed) IP address was assigned, ntp was enabled and that was about that.
After dinner, I quickly followed this tutorial to get the box a bit more Unixy without going too far (yet) from the default: start up telnet via a simple Java command-line tool, login, then enable ssh, set it up in /etc/init.d, add some extra binaries. All very quick and simple [ with the caveat that the addons.tar didn't want to get there via the Java tool, so manual scp once 'inside' did the trick ].
NFS, which I like for shuffling files around, appears to be little trickier for this ARM-based LinkStation Live. So at least for now I am content with simple rsync'ing of my backup directories on the few machines here. Much better than the current setup with mutual backups between workstations and semi-permanently being out of space.
All in all a rather pleasant gadget and recommended at the price. The extra $100 in rebates are valid from today to the 12th.