Hot off the press with some excellent numbers on real world disk failure rates. As someone who`s consuming and storing a substantial amount of TB`s this kind of data is invaluable. Full post can be found here
Am using WD green drives coupled with SSD on ZFS thus you get alot of bang for buck with large cheap disks and fast cache/working set (SSD). So far have only lost 1 disk and luckily it failed during burn-in.
Keep in mind this data for consumer grade disks, not your typical HP/DELL/IBM crazy ass expensive servers.
In short: seagate barracuda disks sucks - beware.