When upgrading BIOS don't forget to do the ESD and PERC FW as well - actually you'll get an out of date nag message on bootup if the BIOS rev gets too far ahead.
I got burned about a year ago - a RAID container on a PE4300 went bad and system wouldn't boot(can't find boot partition). Dell suggested Flashing BIOS etc etc, and after I did, I found that TWO drives of the six in the container were not there. Nothing amiss was reported beforehand, and there were no red lights on the drives.
I was later told by Dell that the drives probably didn't go down together, but nothing in boot messages, or FAST etc showed anything wrong. Now I check regularly for updates and install the latest every 6 months or as soon as it's available. Glad I have a good backup scheme and a spare server handy at all times (not using clustering though)...
My backup rotation is a modified GFS - 2 sets of mon-sat, 5 weeklies that are used in rotation on Sundays, 12 monthlies used on the last business day of a month in place of the regularly scheduled backup for the day, and a year-end tape.
Weekly, monthly and year-end tapes are sent offsite to a commercial storage place, dailies are kept onsite. All backups are full (using a PV100 SDLT drive, no danger of filling one of these tapes yet!). Finally I always back up each server to two different tapes - simplified example using 3 servers: A backs up A and B, B backs up B and C, C backs up C and A. Every other day I restore about 10 Gb just to make sure the tapes aren't blank.
Scheduled dress rehearsals for a disaster occur every six months (that's what the spare server is usually used for). It's a great feeling to know that after a total failure I can get any of our servers back on line in a couple of hours - depending on how long the restore takes.
Sorry for rambling on, but I think backups are about the most important thing a server admin can do - not only for the company, but also for his/her own job security! (I got my first server admin job after my then-boss was fired for mucking up the backups - server went down and he couldn't find a tape with a good backup newer than a week old)
I hope this helps somebody out there!
Cheers!
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Darts