Ask Slashdot: Storing Family Videos and Pictures For Posterity?

New submitter jalvarez13 writes: I'm in my early 40's and I will become a dad in less than a month. Until now I've been quite happy with a Canon Powershot S110 for taking pictures and video, but now I'm thinking in longer terms. If some of you have already thought or done something about this, what did you consider when buying photo/video equipment? What about a plan to store the files you generate? I guess there are important decisions you made about to image quality, file formats, storage type, organizing and labelling software, etc.

I'm also wondering if there are any other technologies (stereoscopic cameras?) that I haven't thought about and may be interesting to look at.