What is the rationale for 2-500GB hard drives rather than 1TB hard drive?
Two reasons.
One, you can install Norton Ghost and have it backing up always to your second drive. If the main one fails, you can swap, restore and be up and running in 30 min. Yes, this has happened to me several times over the last decade. This isn't a replacement for secure off-site back (which Norton Ghost also supports) but for those computers with networking (e.g., INL), this is better than nothing. Note, this doesn't protect you against a motherboard failure, but at least the data on the drives is still intact! The alternative is RAID drive arrays.
Two, some people like to have their data stored on a separate drive and then you can do that easily. Might have some speed benefits for large images.
For these and some other reasons I always install a 2nd drive on any new computer (e.g., from a vendor), and install Ghost for backup.