Ricardo Tomasi has done just that with Filr, a command-line tool that turns Flickr into a storage repository. This solution isn't ideal, since it's only available for now from the command line, and has only been tested with certain types of files (images), and only on files of up to 15 MB. But it's worth highlighting, and I'm sure others will come up with better solutions very soon.
Note: this may violate Flickr's Terms of Service. Use at your own risk.

