Nathan, you are wrong.
1. You only need a normal Enterprise Server Licensing for a failover NetBackup MasterServer. This is different for Failover Media Servers, but this is not the topic.
2. The best way is to use any form of clusters. Read the NetBackup High Availability Guide and the Cluster Compatibility List for supported Clusters.
3. You should use SAN Storage, so that you can use and mount the disks on two servers.
4. You can setup a Manual Cluster (without any cluster software), so that you shift over the disks, setup a IP address, and then startup the master in the failover node. This is what a cluster will do automatically for you.
The last and easiest option is:
Setup another server, similar to the primary server. This can be done by cloning the boot disk and booting the second server from a (previous created) copy. Then you start Netbackup without any Catalog information. Use Catalog recovery to recover your complete NetBackup server. This will take some time, but after you recovered you catalog (some 10th to 100 GB), you will be up and running again. This method is called cold standby and you clone your original machine. So everything is the same from hostname to IP address, so that NetBackup will run fine.
All of the mentioned methods do not require to import any tapes.
WARNING!
Do never ever only copy /db/images directory. Without your EMM database you will overwrite all your good images on Tape.!