Data Logging Help

I'm working on a project that requires the storage of data from sensors connected to an arduino. I am considering using a micro sd storage module to accomplish this. Does anybody have any suggestions on the best component to use for this or any other ideas for storing data?

A microSD should work well. You could also do wireless transfer of data to a PC.
If you use the microSD you may want to timestamp your data at the Arduino.
With the wireless transfer of data it may be OK just to timestamp your
data when it is received.

(* jcl *)

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I think it not online application. You need shield with SD card and RTC. for keep time stamp.

I'm develop TFT LCD board include SD card slot and RTC. I'm not sure. It can fit you application or not. many dataloger no need lcd. It have only 1 free ADC pin and I2C port with DS1307 RTC. You can use I2C bus for other interface.
If you interesting see http://www.circuitidea.com/dev-board/BL-TFT240320PLUS-V2.html

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This is the micrsd I'm currently looking at getting, is this a good option? SparkFun OpenLog - DEV-13712 - SparkFun Electronics

I'm also going to send data wirelessly to a computer using an xbee module in my system for redundancy.

What does timestamping my data on the arduino mean and do?

timestamping means associating the time the data was collected with
the data. That way you can plot the collected data versus time.

If the timestamp is generated by a RTC on the Arduino then
it would be timestamped against the clock on the Arduino.
You would know exactly when the data was collected.
You would just need to synchronize the RTC with the absolute time.

If you transmit the data using the radio you may be able to
timestamp based on when the PC received the data.
You would be timestamping the data based on the time
it was received. There would be a difference between
the timestamp and the actual time the data was measured.

I am not sure about the details of your application. I make an
Arduino compatible board with an XBee radio. I also make
an Arduino compatible board with a RTC.
Specs and app-notes for all the boards are at --
http://tinyurl.com/djg9q3

(* jcl *)