Keep waiting for HDD's to return to their previous prices?

So tonight I officially hit a new point of absurdity in my attempts to delay buying a HDD until prices are *anywhere* near the ridiculously lows of a couple years ago. I am now on my third build without being able to feel justified paying for a new HDD, so I actually went out to the garage and pulled the 160gb 2.5" drive from my dead PS3 and installed it to the SSD mount in my case, moving my actual SSD onto the previously unneeded desktop mount.

My other two machines are running an old WD 5400rpm 320gb and a WD Caviar Blue 500gb. I have massive amounts of data I'd *like* to simply store with redundancy on every system, but that would mean I'd need a pair of 1TB drives and one 500gb drive. One of the larger drives should be reasonably fast, but the others I just wouldn't want slower than the Caviar Blue 500gb. The main concern is to pick the most reliable models possible, not the fastest (these aren't system drives after all).

I keep looking at the Caviar Black 1tb models, but $100 seems crazy when I can get a top-quality 120gb SSD to run the OS for less than that now. Whether it's Newegg or Amazon, I get nervous when I see that Seagate has about 20% of it's owners rate it at 1 egg/star because of reliability issues. Hitachi looks like a good option with it's new Deskstars, but that's still around $90 for 1tb at best. I am remembering seeing 500gb drives for well under $50 at one point, and I would have guessed six months ago that a Caviar Black could be had for $75 by now.

Am I waiting for a price correction that probably isn't going to ever really occur? In other words, should I just bite the bullet and dish out $300 for three quality disks, or am I right to hold out a bit longer with the idea that I'm spending money on the most overpriced component in the market by purchasing now?