I've been using the Toshiba PX1626E-1HE0 for a good few weeks now with no problems to report. It comes pre formatted in a single 465 GB NTFS partition (presumably the rest is reserved for disk management overheads) so I just plugged it straight into Windows 7, a WD TV Live media player, and Windows XP devices with no actions needed. In the past with other drives I've needed to create FAT 32 partitions for use with the PlayStation 3, but I am now moving over to WD TV Live and I've just left it as an NTFS drive, though I'm sure an application such as Swiss Army Knife would give me a secondary FAT 32 partition if necessary.
My first impression on copying files was it was not too fast, but it transfers 1080P to my WD TV Live perfectly, so that is as fast as I need, and no complaints. It runs cool and is virtually silent in operation.
This is a very minimalist design, which I love. Just a pearlescent silver passport sized device with the Toshiba logo, a single LED, and that's it - perfect. It might be a plastic material they use on the case, but it was very cold when I unpacked and I thought it might be metallic. It doesn't matter either way to me. You get a nice chunky, short USB lead included, and a disk based manual which I haven't bothered reading because you won't need to with this great, simple unit. It is powered solely from the USB lead and is very convenient to pass between the various devices I use