If you're going to back up hard drive to hard drive, consider just using RAID 1 (mirroring). Most modern motherboards have RAID 1 built in. If the hard drive dies, a perfect copy is always right there and you won't miss a bit of work (until you get a replacement drive and rebuild the array).
The reason I do this is that in a mirrored array, anything that is written is written to both drives at once. If a newly installed program trashes the OS, both drives won't boot.
I actually had that happen once.
Anyway, counting the external backup, my main computer has 3 hard drives. :)