NAS vs Server+USB/ESATA

I'd like to move from internal drives to a NAS since my data storage needs now require it, and I'd like my data shared across my network. My data currently consists of a 2 TB iTunes Library (music/apps/video etc). Also I have about 2.5 TB of photos that I store as backups for members of my extended family. I'd also consider moving my ~500MB web server there. Room for expansion is always good as with data I am somewhat of a packrat.

I currently have an Ubuntu server hosting my web server (testing, not production), and a Mac Mini server hosting the photos. I have my iTunes library on my PC so you can see how having this all in one place, shared on a network, would sound attractive.

My first question is should I get a NAS and use iSCSI (or similar), or should I get storage that connects directly to my server using ESATA/USB/FireWire (maybe ThunderBolt o.O) and share it that way.

My second question is once the first is decided, which products should I consider? The most I'll pay is $1000 but I'd prefer something in the $600-800 range. I've already been looking at the QNAP TS-559 (Link).
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More about server esata
  1. Since you already have two servers, is adding internal HDs to one of them (likely the ubuntu server) an option? It'll be cheaper than buying a NAS.
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