You're really not likely to do much better than this if you care about making sure that you don't lose data. Go around to hosting companies and price out servers with 1TB drives, and keep in mind that you need some sort of RAID to avoid losing data when a drive dies... you might get down to $0.10/GB/month, but I doubt you can get below that.

In the long run, any company which is selling you storage for less than what it costs them is either going to go bankrupt or throw up TOS roadblocks (like dreamhost). There really is no free lunch.