I got this memory stick to transfer large files quickly. For this purpose it's absolutely perfect, via USB 3 it will write files at 32MB/s which is impressive. It also reads faster than a normal memory stick via USB 2, although I haven't tried writing to it on USB 2.
It came formatted as FAT32 which suited my purpose so I haven't changed it.
If you're fed up waiting to copy large files, get this!