USB 2.0 is a bit cheaper, maybe $30 vs. $40, but I think you can't boot from a USB 2.0 hard drive. Not sure on that one.
One hard drive, even a fast one, cannot saturate the FW400 bus (50 megabytes per second). You shouldn't have any problems with that. But I'd say definitely look for one that DOESN'T have a fan. The ones with fans make noise and are irritating. Pay an extra $5 or $8 or whatever, it's worth it.
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