Dan:
I went through this a couple of years ago and it makes almost no sense from a financial standpoint if you have to build a pond/tank and install pumps. The basic math goes like this:
Plastic tanks cost about 1$/gallon. So a 1500gallon septic + digging the hole + getting a pump + running power and piping I costed out at 3-5K. Let's call it 3K since I'd do the work.
The value of the water on a full tank is $6 (we pay 2.95 for 748 gallons). In Seattle we get very little rain in the summer so I guessed that I could have it full in the spring easily and then maybe full two or three times more so I'd get 20-30 bucks a year out of it. The ROI is 100 years. In other places where there is more rain in the summer it might work better...but if there is more rain then you don't really need a storage system.
Now if you have a location for a pond that is higher than your yard so you can store a LOT of water and gravity feed some options are more interesting. If you had a very large tank for free it would make sense. If you can run gray water to a bunch of shrubs in a passive sort of way it makes sense (although it is illegal in Seattle for health reasons).
I was quite excited about the solar and water options when we did our house and in the end the only way you could do it was so you could claim you were green...to which I would say you'd be 'greener' by buying muni water and donating the water system money to a green cause and taking the tax deduction
Chuck