clockwork mod bakups needed?
 

Ok i have the paid version of titanium backup. Do i still need my cwm backups? its taking up 1.2 gb of space.

How is a nandroid backup different?

I always keep both. Get a bigger SD, they are cheap :)

i have a 32 already. 64 GB is around $200 from Sandisk:p

nandroid backup = a complete image of your current system, including ROM and (correct me if I'm wrong) Kernel.

Titanium Backup = just your apps and app data

Correct. Clockwork's Nandroid is a complete image of your phone with everything just like how you image a PC. I only keep the latest copy of nandroid backup only and delete the rest.

Same

so i can remove the Nandroid backup to an external drive, and delete it from My SD card till needed correct?

Yup. nandroid backups are massive.
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Yup

Just keep the nandroid's since they have everything including settings/apps/system files. Name to so you know what each one is...ie: "lighting mod" or "ICS Test" rather just having them labeled as dates.

Also, I would only use Titanium to have apps backed up. I don't think Titanium takes that much room. Keep those backed up on your phone though in case you want to add/remove apps you can't find in the future.

Just take your oldest Nandroids and put them on your computer or delete them. Keep ones that you know worked perfectly and may want to go back to. I've done about 8 Nandroids on one phone but then do a spring cleaning of them and delete the ones I don't think I'll go back to.