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I would NEVER buy these third party refurbs for any environment where
you might actually store data of value on the drive.
Kwad >>
If you have something that is truly of value stored on a single hard drive, with no redundancy and no backup then you are an idiot, plain and simple. Just because a drive is "new" doesn't mean it's not going to fail. A refurbished drive is no more likely to fail than a new one, and possibly less likely since it has been thoroughly checked out by the manufacturer first. Obviously since the drive has been refurbished, it can't be sold as new, but that doesn't mean it's junk...
If you want your data to be protected run a Raid 1 Mirror array and also backup regularly to floppy drive, CD-R and CD-RW, like I do. I guess you can tell I value the data on my drive. It's pretty much impossible for my data to be lost, except if my entire home and computer are completely destroyed (in which case I'll either be dead myself, or lucky enough to be alive that I can afford losing everything else).
Somehow I don't think data protection is a big concern among the enthusiast community. You don't see people running Raid 1 setups, instead they run Raid 0 which actually doubles the likelihood of data loss in the name of an entirely unnoticeable performance increase. That's not even taking into account overclocking and running components out of spec-- probably not a big concern, but it will make data loss more likely than running entirely in-spec.
Personally, I'd be a lot more concerned about losing data running a Raid-0 setup on two brand new hard drives, than running a single refurbished drive (although in my opinion both are pretty stupid if you really don't want to lose data-- that is to say run Raid-1 on 2 drives, refurbished or not instead ).