I bought this to store my photos on after they've been processed on my laptop, well that was the intention, but it's currently in use on my main pc at the moment as a back up drive as the main pc has crashed, so it's holding all my data from that whilst I reinstall Windows XP and there's still loads of room to spare, (it swallowed all 320Gb of data from it!)
Yes, when you get it you'll need a good 2-3 hrs to reformat it into NTFS if you're using XP or Vista, YES it will get a tad warm when in use (NOT HOT!) & YES it's very quiet in fact virtually silent, YES it's quick if you plug it into a USB2 socket.
The only thing that I'm not comfortable about is the only way to shut it down is to either pull the USB cable out or pull the plug on it (there's NO on/off switch or button), just be sure that you let it finish its work 1st though and it seems no worse for doing so.
And Amazon is currently the cheapest place to get this device.