I bought this drive to supplement my previous generation WD My Passport Essential SE USB 3 drive (500 GB). Comparing the two, this WD Elements drive is certainly an improvement in speed terms, with writes as high as 89 MB/s (compared with 59 MB/s) and reads up to 130 MB/s (93 MB/s for the My Passport) according to ATTO. The drive is however considerably thicker than the older drive (around 50% thicker) so that could be an issue if portability is a major concern for you. It also vibrates quite a bit when in use, although it's still silent.
A word of warning about USB 3 controllers though. A number of external WD drives (including this one) have problems with USB 3's link power management (LPM) - see the WD forums and WD Universal Firmware Updater release notes. Western Digital have fixed this on some drives with a firmware update, but this WD Elements 2TB drive still has problems with the current 1.025 firmware. After a while, the drive may disconnect from the computer without warning. A workaround is to turn off LPM on your USB 3 controller, but not all controllers give you that option, for example Fresco Logic chips. If you are buying a USB 3 PCIe card or ExpressCard to use with this drive, I'd advise you look for one with a Renesas uPD72020x chip as LPM can be easily turned off.