I really don't think that it's important that Hard Drives are at an all time low.
Would you still buy an older iPod from back in 2005? Or would you go for the newer iPod models?
It isn't because something is at an all time low that it makes it right to keep investing in it. Keep in mind that demand drives the market and that demand drives the advancement of said markets.
Technically, based on this article, I should go out and buy myself a walk-man, some parachute pants and a Hyundai Pony.
Stop, Hammer time!