Yeah!! Its World Backup Day today. Get more details at http://www.worldbackupday.com/.
I wonder sometimes how they have a day for almost every minor thing we have in our lives and virtual-lives.
Backups are important, do keep backups of production machine, development and any other machine that you will regret loosing of later.
You can either get a backup service from one of the many providers or buy a cheap dedicated (with say ATOM processor) to rsync data there, either way, Do keep backups, you won’t regret it.
There is an interesting discussion going on at LowEndTalk, do read the thread when you have time time.