If you want to build one, it's essentially just a low-power computer with a ton of disk space. If you want a list, it'd just be a list of regular PC components.
Okay i'll google the configuration then

Hmm, is it reasonable to stuff one in a closet though? Don't they get really hot if you do that? It's 12 disks, after all...
I never imagined rackmounts in general to be really reasonable for home use, actually. I always picture them stuffed in racks, stored in a large server room with several giant fans aimed at it, and with a floor that is tiled in a way that the tiles are removable (so you can easily run cables under the floor). It's mostly my University that gave me that picture, when I got to visit the server room a few times. I've basically described the room, except it has a shitload of other servers as well.
If i buy it in the winters it is gonna be okay... but in summers... oh crap...temp. here are already 45 degree C.
I wonder if it will last though that.
Saw this and I wanted to recommend few things - Don't purchase the WD Notebooks for externals, get the WD Elements since they're reliable and durable. They are slower than the notebooks but they'll last you very long. As for internals, get the Blue or better yet the Black edition for WD. As for Seagate, the new series they've been coming out with are reliable to what I'm researching. Anything older than that is not worth your money.
How is WD My Book Essentials series? The WD Elements you mentioned is max. available in 1TB which comes nowhere near my requirement... my requirement is atleast 3TB
What is the new series that Seagate is bringing out? i currently have Seagate FreeAgent GoFlex Desk.. how is this?
There is a 3TB one in Newegg, I saw it two weeks ago and it's for like ... 170ish dollars (maybe less?). The 2TB is about 120ish USD. Avoid all external WD's with the exception of the Elements series. The Elements series does look very simple with the casing, but it's a lot more durable and reliable than all other external series out there by WD. I'm giving you this from experience - and it wasn't a pleasant one.
As for the Elements, leave it in an open area. Putting a blowing fan from the side of it would help to cool it down when you're watching videos off of it (I watch anime off of mine, a lot!).
If you want to go with another External device, get Hatchi (was it?). They're the second best brand on the market.
You could have checked the later posts as well...
The Elements you are saying is only available in USB 2.0 after 1TB...for 2-3TB it is only USB 2.0
i don't have a computer which is USB 3.0 enables but i would surely buy one in future
so i would certainly like a USB 3.0 device too
And you mean to say WD My Book Essentials is shit?