On Friday whilst getting my iPhone replaced in the Apple store I picked up a 500GB version of Time Capsule. Time Capsule is Apples solution to backing up you computers via WiFi.
The unit contains a 500GB hard drive as well as a 802.11n wireless access point. The system acts like a mini server, letting you see the hard drive over the network from any of your macs. You can also plug in another USB hard drive, or printer and see them too.
The system set up was a breeze, I plugged in the box, connected it to my router via it's network port and that's it. I connected to the Time Capsule via WiFi and then use the Airport admin utility to set it up as I wanted. Using the wizard I managed to use the Time Capsule as a bridge to my existing network, allowing me to have an 802.11n network for my MacBookPro and keep my old wireless router for my non 802.11n devices.
The Time Machine set up was also very easy, there isn't much to do, although I removed A LOT of the stuff it backs up as default (such as system files and applications), to focus on documents and media and work. The whole lot (about 68GB) transferred wirelessly in roughly 3-4 hours! It now backs up hourly every day (that its on and connected to the network), daily for a week, and weekly until the disk runs out of space, warning you when it deletes old backups. I have also tested using the Time Capsule disk for files, as well as another USB disk, and it all works splendidly! The only minor annoyance I have is the huge green light on the front, not sure it needs to be that big...
I would thoroughly recommend Time Capsule, to anyone wanting a painless back up solution although I am yet to use Time Machine to recover anything, but it looks very nice ;)