Even if you bought the 2TB Mac, you would still need an external hard disk for backup purposes. This would cost about £70 (but you would not need a USB hub) - so the total cost of the ‘large capacity Mac’ solution over and above the cost of the basic Mac would be nearer £900.
On the other hand, you could opt for 2 external USB devices - one for library storage (your B device) and one for backup purposes (your C device). If your went for the cheapest option that offers 2TB, the two USB hard disks would be about £70 each. Add in £20-30 for a good USB 3 hub and that would give an extra cost over the basic Mac of ~£170. However, this plan also gives more flexibility. 4TB hard disks are about £100 so two of those could be used for a total cost of about ~£230.
Despite the reservations of @Marian, I would seriously consider a 2TB USB SSD (~£150) for device B with a 2 or 4 TB hard disk for the backup device C. The reason for my preference for the SSD is that, used solely for media files, it will last longer than a harddisk (no moving parts to wear out). However, in respect of the backup device, @Marian is absolutely correct. There is no need to use expensive SSD storage for backup - so your C device should always be a Hard Disk.
Whichever solution you adopt, I would tend to ‘go large’ for the backup device - say 4TB or even larger - so that you can use it to backup everything. Not just the music media files.
Whichever way you go, the hard disk used for backup should not be permenantly connected to the MAC (or the HUB). This serves two purposes (the first being the primary one):
- It elliminates, for the most part, a single point of failure damaging both the online copy (your device B) and your backup (your device C) at the same time. The only time that you are vulnerable to that is when you actually connect the backup device for the purposes of performing a backup. Such events (like, for example, a power surge to the USB hub that is powering the two devices), are rare - but they do happen.
- It means that the hard disk does not wear out due to mechanical wear incurred at times other than during backup. (Even when disks are allowed to go into their low power sleep mode, they will still spin up when the Mac is powered on for a little while).
You may also be able to backup to a cloud service if you have one - and it has enough storage space. This is the safest because it is inherently off site (so catastrphic events like fire or flood will not affect it) - but it is also the slowest to access - both for backup and for restore - by a long way. Personally, I would consider this as well as the local hard disk backup - so that you would only use a restore from the cloud if, for some reason, your local hard disk backup was corrupted. This is the backup regime that @Marian described.
If you are paranoid about backup, and don’t have a cloud service with sufficient storage, you could consider using two backup hard disks and keeping one off site (at the office or at a relative’s/friend’s house - or anywhere that is not inside your house). However, this becomes awkward to manage to some extent because your have to periodically retrieve the second backup from what ever location, update the backup and then put it back in its remote location.
I’m afraid I’m not a Mac user, so I can’t help with TimeMachine.