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I use a USB drive to back up my Quickbooks files, but I would never trust only on one kind of media for my files.
I've been using it for several months, so far no problems.
Again, do not use only on device/method for your very important files.
 

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I have an external USB hard drive that I use to backup all my data and designs. I also used to use USB flash drives fairly frequently until I got all my wiring ran for my network. When you say long term storage, are you meaning accessible at all times?

If so, an external hard drive has about the same life expectancy as an internal hard drive from my experience, even though the external may not be used as much (had to replace the drives inside the case two times on two different external cases out of the four external hd's I own). My dad constantly uses three usb external hd's as regular storage drives and hasn't had much issues yet, although he's still within about the first year/year and a half on most of the drives.
 

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usb jumpdrive in your keychain... not a good idea.
lesson learned when usb jumpdrive suddenly didn't work. got banged almost everyday with the keys in the chain.

it's always good to save multiple back up of file. USB stick + separate physical data harddrive in your pc + burning on CD.....atleast 3 different back up media if files are really really important to keep.
 

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Do you mean a USB pen drive (a stick) or a USB External hard drive?

I've just lost a USB hard drive - the second one to go. Solid state storage is probably more reliable - no moving parts to break down.

Online storage is probably the safest method of storage (if your provider uses RAID and/ or has good backups) or burn to lots of CDs (DVDs have a shorter life expectancy).
 
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