Wel, Tom, you don't seem to understand properly what redundancy is, especially in your environment.
Redundancy can be "touring with 3 lighting(1 live, 2 hot spares) consoles, 5 back-up computers, back-up hard drives and optical media, 2 monitor consoles, 2 FOH consoles, and a complete set of spare outboard racks". And don't forget a 20% back-up of the mains gear(subs, amps, cabling, speaker cabs, spare components), and half the monitors(again, cabs, amps, components). Yeah, nothing like lugging a few million bucks in extra gear, taking up valuable truck space to the point where a dedicated extra driver has to be hired and on payroll, not to mention truck lease, per diem, maintenance and fuel costs.
Redundancy has costs. It means having to spend sufficiently to ensure a complete BACK-UP solution should the primary fail. In your case, it means having a second Compu retail purchase in order to obtain the hardware. It's not a piracy issue, it's a matter of "That's what the price is to run this software".
In the case of a tour:
Redundancy for playback tracks involves:
Back-up laptop
Back-up Drive
Back-up of drive onto optical media
Back-up interface
So, basically, whatever is the primary system, a total duplication of that. This is a mission critical element.
In regards to lighting and audio, often whatever is needed can be hired shor term or long term at short notice, so these days, carring extra desks and lighting consoles is often not done anymore due to trying to shave production costs down, even before the economy took a big steaming crap on all of us.
I mean, if you really want to get down to it, a stamped CD costs pennies to make, anywhere from $1 to as little as 1 cent depending on the size of the run. You have to factor in the costs of the glass master, quality control testing, and how is it packaged(paper sleeve, slimline case, full jewel case, DVD style case, and silkscreening).
So, without knowing crap about crap(after all, I'm just some stupid audio guy), by your justification, getting redundant would cost you around $50. But the reality is that this won't happen. Best you could hope for is a maintenance contract with advanced repair item shipped within 24 hours of claim, with a 72-hour return of defective hardware. I don't think Elation offers that sort of service.
In my case, I have a redundant power supply for fail-over purposes for my console. I forget what that power supply cost, but it also involved a power pass-thru cable. I'm sure it was over $1600 for that item.
In the case of software products, like ProTools and your Waves stuff, redundancy is what you choose to use, provided your hardware doesn't fail. If you buy an 003 interface, and you want redundancy, you buy 2 003 interfaces, but you only need to buy ProTools LE once, and likewise with your WAVES plug-in. Let's say you do most of your work on your home machine, so you install your stuff on there, use your iLok for authorizations and bingo, you're running. But, let's say you want to hit the road and record a live event. Install your software on your laptop, move your hardware over, plug in the iLok and there ya go. Now your redundancy seems to cost less, but don't forget what you paid for that laptop.
So, please understand what fail-over preparedness costs. I have to deal with this sort of thing at least once a week with some client who wants "redundancy and fail-over protection", but then freaks out when they understand it involves duplication of gear. It's not like I'm selling a massively expensive router to someone for points A and B, and a massively expensive DSU/CSU for those routers in the first place, but also circuits to move the data over. Then what do we do to save costs for fail-over? Well, do I slam a cheap 1700-series router in it's place for fail-overs? I can't because I needed that big router for necessary features, so I can't fail-over properly unless I have proper gear.
Then there's always the worse case scenario. Remember that big set of routers? Duplicate circuits? Doesn't do you a wad of crap when some moron operating heavy equipment slices through telco wires buried underground because nobody did the pre-dig survey.
This is different than a home user, who might buy a router with firewalling and excessive packet level filtering for their primary broadband protection and access, then keeping their old cheap broadband router as a back-up.
Yes, this is expensive stuff. I'm a grown man wiht 3 kids(4th is planned) and I have to do this out of my own pocket. I have to charge DJ-type rates for true concert sound production to work where I am so every bit of theft hurts, and every purchase is a bit hit to the wallet. And I know my investment is well over the $300K mark now and it's going to jump to over $400K investment within the next 2 years.
On the plus side, which no doubt you're doing, is you're buying QUALITY gear. This theoretically means less downtime, higher uptime, better reliability and lower total cost of ownership, which equates to a better return on investment. You're already in that direction for your lighting platform. If you're worried about your Compu dongle, get a small Pelican case for it, as padded cases are a good thing and always recommended. Carry a spare USB 2.0 cable, that's good cheap insurance. Honestly, the weak point is your laptop, mainly because it's a "soft" platform and hard drives can fail(as can any laptop component). But you're already thinking about backing up your data, which you mentioned optical media, but I prefer USB sticks because they are more dynamic, but I won't argue your CD-R based solution either because it has its own merits as well.
So, if you want to ensure higher reliability, I have the following suggestions:
1: Case for your dongle, or at least don't just toss it in the laptop bag.
2: Spare USB cable. Cables are cheap, they break, have a back-up.
3: Back-up solution(USB stick or CD) of show data. You're on this one already.
4: Take it out of yout truck when not in use. Don't store it in there. Heat affects components. I remove my mics from the truck between events.
5: Get an OptiBranch/4 or MultiBranch/4. Yes, despite the costs, the features and optical isolation give you a buffer to protect your Compu dongle from getting fried due to something odd and bad happening on stage(say a surge sending voltage back down the DMX cable). This is more likely to be a problem than anything else. At any rate, it's also cheap insurance to keep things running.
Coming from all sides of the picture, I understand all sites of the situation. Sort of an unfair advantage, but a very real point of view.
The Compu hardware is very reliable. Take measures to protect it and you should be fine. I'd rather buy a MultiBranch/4 or OptiBranch/4(wait, I did, I need a second!). More than you're willing to spend maybe, but it's good to have regardless as they fix more things that I'm saying right now.