USB is awful - hogs the CPU for data transfers. It's intended for keyboards, flash drives and memory card readers etc. All mac users should be using Firewire for external HDDs.
Second that.
I tried USB2 on my MyBook 250GB External and FireWire400 on the same drive and overall, when transfering big files, FireWire hands down, takes the lead.
I'm talking 20GB and beyond...
I've got the FireWire800 capabilities on my MyBook but my MacBook don't