I bought a five user subscription for Office 2013 earlier this year, each pc has 1 Tb of One drive storage included, suits me as I use Office a lot.
Knowing my luck that will be chopped down soon 
Don't get me started on the 1TB thing, I had OneDrive Unlimited not so long ago, which this year has dropped to 1TB, just wish MS will make there mind up and stick to it rather than keep changing the rules every 5 mins.

The 1TB OneDrive Storage bundled with Office / 365 does actually represent good value especially on the Home / 5 User Licence as you say. But, and a big but, is it becomes almost unusable to use a full 1TB once you start chucking 100's of GB's backwards and forth, mainly due to the very simplistic way MS designed the OneDrive Sync Software for the PC.
If you use the PC Sync on its own you've almost got to have as much free Hard Drive space (and a good fast Internet) as you have Cloud Storage, or be really up to speed and remember what folders are sync'ing, or use the Web Access and don't sync, but once you've added a few Mobiles and want to share or bounce data around between them the PC Sync App gets really messy.
You can chose which directories and sub directories to sync, but there's no options to upload or download sync only, its all or nothing, plus you can only sync it in all in a single Folder, 1 hard drive or partition at anyone time, meaning your forever copying or moving files back and forth, otherwise you have to unlink it, sign out and re assign a new folder, then hope when you sign back in, that the sync app doesn't start uploading / deleting files.

The thing that pee'd me off, was OneDrive's unwillingness to let you store OS Back Up or Drive Images without a lot of fuffing around, theres 3rd party apps that will help with that but there stuck with OneDrives Delveloper API which have file size restrictions etc to name a few.
If your used to using the 1TB OneDrive then fine, but as a new user, I would almost certainly recommend that you install the Sync Folder on another Partition of the Hard Drive that's got plenty of free space rather than use the default C: OS Drive, sounds crazy, but once you get past 300gb+ of usage / storage it kinda makes sense.