Storage products are mission critical in today's environment not only as a device that acts as the repository for digital assets but one that also ensures secure processing and delivery of the assets. Storage requirements vary based on vertical, the type of data to be stored, the time duration for which it needs to be stored, and the number of people who will be accessing the data among other variables. However, the fact that there is a huge demand across the board is unquestionable. This demand is forcing vendors to think outside the box constantly and provide storage solutions that are able to provide answers to existing challenges. This paper touched upon how RAID and virtualization do provide benefits for certain storage issues but ultimately both succumb to their limitations. It will take more initiatives from the vendor community such as what Omneon has done with MediaGrid to take storage to the next evolutionary level.