Yep, I just finished moving most of my stuff to a bunch of small (but stupidly powerful) machines in my and my parents house. They sync and work very well. It's a nice feeling, finally everything is hosted and backed up and in my own hands. Of coourse, this is not for business, although I would have no issues hosting small busness on here; it's more robust than most single vps solutions.
Maybe, but i'm not running a bank here and I do, regurarly, stick in an external drive to run a backup. It's pretty well protected all in all. Definitely better than 'if google kills my account for no reason at all'.