328 * 60 * 60 * 720 = 850,176,000
Or about 850GB. I would add on a little in case there happens to be extra movement (requiring higher bitrate) and make it a solid 1TB for your current month's recording space.
Then you want to store last month's video, which would be another 1TB, bringing the total to 2TB.
Then you say you want to store "compressed copies of the previous 2 months", but you don't give any impression of how much space that would take up. Guessing that "compressed" means about 1/4th the space, then the two months together would be 0.5TB, bringing to total to 2.5TB.
So, your question is really, "How do I store 2.5TB of live data in a way that offers redundancy, security, and extreme reliability?"
Personally, I would use a RAID6 of 6x750GB hard drives with a hot spare and a batter backed up raid controller. That would allow for any two drives to fail, plus a third after the automatic rebuild on the hot spare. The
Areca ARC-1220 would do peachy. 750GB drives can be had for ~$350 each, so the controller and drives alone would be $3K.
Of course, RAID is not a backup, so I would also use a tape carousel to regularly back up data to tapes that can be taken to an off-site location (in case the building burns down). And if you don't need to keep data forever, then you can also reuse tapes. Expect to pay $3K-6K for a LTO3 tape drive.
Of course, that assumes that you need to backup stuff regularly, or even at all. How much would you be out if you lost your data? You could always have a couple of 500GB hard drives and backup each half month to the drive in an external enclosure. That would allow you to move only the new data off-site every 2 weeks, though it would require more physical handling.
Off-Topic: I really wish there were a decent open source program for video surveillance. I have seen people hack together some interesting pieces, but nothing all inclusive. It's a shame, because there's such a big need out there.