Only a few days into owning the drive and so far, I'm delighted. I also have the Iomega 250Gb USB2/Firewire drive and this Maxtor beats it hands down.
Transfer times seem a lot faster ( it's a 7200rpm model, instead of the Iomega 5400rpm drive ), it's nearly silent in operation ( the fan on the Iomega is quite noisy ), you can manually switch it off ( the Iomega needs unplugging from the system, before it'll let you power down ) and the software package is excellent.
I like the fact that you can daisy-chain two or more drive together using Firewire, so you only need one free port on your PC/Laptop ( USB2 connections can't be daisy-chained, so you'll need more ports or a hub, if you have more than one drive ) and all the required cables are included.
One thing to bear in mind if you are using this on a laptop though. Most laptops come with a 4-pin Firewire socket, but the cable supplied is a 6-pin. You'll need to buy a 4-pin to 6-pin cable, if this is the case ( Amazon sell an excellent Belkin cable, that is ideal for this ).