I copy my pics to an external hard drive periodically, and back up specific subjects (like pictures of Stinky, for posterity and historical purposes) to DVD. The problem rumors about CDs MOSTLY affects CHEAP CDs. Not too sure about DVD media, but I keep my pics in multiple places.
Since I was going on vacation (see my Washington DC post), I found a good photo hosting site that gives you 10GB of storage for $24 a year, that has some pretty nice features. I upload my original size photos... if I ever need them, I can get them