In my opinion, the biggest issue you will have in having good backups over the long term, is that WD green drive. You really need to have at least 2 drives in a raid-1, preferrably more in a raid 10 or 5 or 6, because your single 1TB green is going to wear itself out with writes and seeks very very quickly. That drive will not sustain at high read/write by itself even in the short term.
Once you get a good full backup, and as Les said, use -checksum-seed, your network utilization will be less of a bottleneck.
As I've said before, RAM is the second real issue, and more will help a ton with rsync backups.