I went to a seminar at the smithsonian back in 1997 and they were talking about some group at Cornell that was getting into computer-output microfilm to back up data. I think it's actually been around for quite some time as a preservation strategy.
I work for a historical agency, only I'm in the part that handles 3 dimensional artifact documentation. All the gov't records, newspapers etc--are handled by microfilm labs and they "reformat" onto b&w microfilm, that is toned and stored as a master file, with duplicate copies made that are put to use for access. This is the standard across the board as far as public records go. They believe they can get 500 years LE--life expectancy--out of polyester based b&w microfilm shot & stored just right. So, this is the benchmark that everything is measured against. I mean everything too--acetate based rollfilms, color films, prints, digital everything--is measured back against microfilm.
In fact, they'll actually throw out the originals and use the microfilm because of the storage issues of paper. There's a cut-off of like 150 years for the age of the document,as to whether it's an "artifact" or just a record, or printed textual material. If they'll take a book or a newspaper and shoot it to microfilm and throw the original away, what's so surprising about burning digital media to it?
p.s.--found a link to it:
http://www.library.cornell.edu/preservation/com/comfin.html