You want to back up the entire contents of the SxS card- typically the BPAV folder and its contents 1:1. Blu-ray discs are one option but imho not the best because they are fragile relatively speaking. LTO tape drives are much more suitable but they're not cheap. I've yet to see the definitive backup solution.
One possibility is using SDHC cards- they are relatively cheap, far more durable than discs and can be recovered relatively easily even after erasure with off the shelf media recovery applications.
Noah
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