Cache is important for lots of random writes. Seek time is important for random reads. Seek time doesn't vary much between drives of the same sort of category - it'll be much less for SSDs, less for velociraptors, and more for 5400rpm drives.
If going for storage, probably get the cheapest per gb - there isn't a whole lot of difference in reliability between consumer drives; you'll be better off getting two for a bit more than the cost of the possibly slightly more reliable expensive one, and RAIDing them.
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