OK, so I went out and ordered a new HD. I'll be having the dump then. And what Shinjidude says, do not rar it if at all possible, it'll make it a pain to update or get parts of. Although I realise torrent wasn't made for packing 380K individual files, so some kind of organisation scheme is necessary.
EDIT: Actually, I've seen EVERYTHING.TORRENT with several hundred thousands of files previously. It was so big it was distributed by a torrent itself, but other than that I believe it worked fine.
Shinjidude said:
This might be a nice idea. Does anyone know if it's possible to update a torrent as it's running? It would be useful to be able to keep it up-to-date as it went.
Nope. A .torrent is static, there's no way to update it.