If you want several TB of storage, noise and/or size are going to be a problem. Probably the only way to keep the temperature down is to use large fans, going relatively slowly, and big gaps between drives. If you try and pack a whole load of drives and the motherboard/ancillary boards into a small case, you are going to hit heat problems, which will reduce the life of everything. I'd go for a large case with the drives well spaced out, and more large fans than seems necessary, if at all possibly adjusted to be a bit slower and quieter, and then as others have said, put it in another room (under the stairs, in the attic etc) so you don't have a large, probably still a bit noisy, ugly box stuck in your living room.