I'd add a few thoughts to that stated:
1) If you need the entire capacity online at any time...
Local file-server for the offline-bulk-storage logical
o You can't easily interface 14 hard-drives economically
---- Serial-ATA is 1 drive per channel (for now)
---- 3ware multi-IDE cards stop at 8, multiple cards needed
-------- requiring Fed-Greenspan to print enough money
---- SCSI will do 14 in a yawn, at speed on several cards
-------- however 160GB in SCSI is not priced like IDE
o Powering & cooling them in an enclosure is difficult
---- a good 550W Sparkle/Antec PSU
---- a very large somewhat expensive server case
---- 14 disks, say 20W each is 280W on HD re cooling
---- ok, it's 50cfm, but in total the PC will need ~150cfm
---- that is going to push you into quiet a noisy box
No point building goliath to win one battle, easy to
sink a lot of cost into a very specialised configuration.
2) If instead you only need part of it online at any time...
o You only need (say) 320GB online at any one time
o So you use a removable HD solution
---- 2x HD caddy's - 2x 160GB online at any one time
---- 8x HD caddy's - 7x 160GB onlineable on cold reboot
o Possible to use ATA-IDE & Serial-IDE simultaneously
---- so that gains drive number if required
---- if planning on RAID-0 for speed, verify reliability
If you can make "2)" work then the cost saving is large.
o Building a 14-drive-online PC is not going to be easy
o Powering it, Cooling it, Achieving the I/O interface is hard
o Achieving say RAID-0 if required into very pricey cards
---- h/w standalone IDE-to-Anything RAID does exist at $$
Externalising as Firewire-Enclosures that many hard drives
is expensive in number of interfaces, PSUs, cases and so on.
Somewhat simplistically, having data offlined also tends to limit
the damage a major failure could have - except dropping the caddy.
Don't laugh, a lot of companies are moving to USB-HD for backups,
yet none are using say a "Pelican" shock proof case to carry them.
Why no-one USA-side has marketed them in that niche is amazing
"Dropping the company" in a virtual world is quite possible
Think carefully and savings may make it possible to u/g the
CPU & RAM, a move to 2GB and a higher speed processor.
Comes down to how you can arrange your data & work.
Sounds like a fun project.