Yes, I copy wallet.dat to a usb stick and store it somewhere away from the computer - wallet.dat stores the keys to access your info on the blockchain so it doesn't have to be an up-to-date copy if you need to recover your coins, but you can hide it away in a safe and top secret place and not worry about what happens if it all goes bits up on the PC. You can also get one of those encrypted USB stick things and put it on that if you want to password protect the beast...