I haven't decided yet if I will be restoring to the hard drives I have currently, or if I will attempt to swap the original disk (it came with a 500GB one) with a higher capacity one.
I intend to keep one bay open for backup (my e-sata port doesn't appear to work with my external enclosure), and I have 500gb, 1tb, and 1.5tb drives in the three occupado slots.
I was pleasently surprised that the new WHS 2011 took just under 35 minutes start to finish--and this is on an HP EX495 system!
UPDATE 4/28: When you install, you will have a yellow exclamation mark in Device Manager for a "Mass Storage Controller." You will need the 64-bit drivers for the Silicon Image 3531 Port Multiplier Chipset available here.
We Got Served has a walkthrough on the installation. I got a notification that my discs have shipped via USPS (no tracking but they never leave me hanging with a "ha ha" post-it note on my door either).
Apparently, it's not just a server update CD - you get a whole new set of CDs (server, recovery, and PC restore). My server is all backed up, so I will probably do the install about as quickly as I can once the discs arrive.
I’m fortunate to not have over 1.5TB of a single media content type, but this has bothered a ton of people.
To manage the transfer I used Teracopy which allowed me to "test" and verify the transfer was good--it also lets you pause and resume, which is convenient.
I will also see about taking the opportunity to swap out the original 500GB drive with something larger--I like to keep one of the HDD slots empty because the only e SATA drive enclosure I have doesn't work at all and I won't be backing up via USB).
As the owner of an EX490, I'm glad to see that its more aged brethren are getting updates too.
So I guess I could bump up to 2tb on the storage disks first (easier) if I had to...
My storage is mostly adequate, but I worry that if the v3 adds viable time machine compatibility then that'll need an extra few hundred GB...