Both approaches have their uses, obviously. On-premise backups enable quick file restores, while and online backups offer protection for critical files in case of a catastrophe -- think cyclones, earthquakes, wildfires -- that completely destroys local storage and backups.
To make it easier to manage both, NovaBACKUP 10 combines both options into a single application. Versions are available starting at $50 for a single Windows PC up to $500 for a version covering a single server Windows 2000, or 2003 Server, including Microsoft Exchange and SQL support.
And each version includes a free one-year online storage account (ranging from 2GB to 10GB) with Digi-Data Corporation.
Since I don't fully trust local storage (something could break, ) or online backups (the provider could go bankrupt, Internet connections might not be available), combining the two would make me feel at least somewhat safer. But I don't want to have to deal with any more complexity than I have to.