Hard drive prices continue to creep lower and lower, as evidenced by this so-low-I-can't-believe-it deal from MacMall: the 1TB Fantom GreenDrive external eSATA/USB hard drive for $47.59 shipped.
That's after redeeming a pair of mail-in rebates totaling $30, but it's still the lowest net price I've ever seen on a 1TB external drive.
Update: Please be sure to read the comments before ordering. It seems a number of users have had problems in the past with one of the two rebates. Consequently, you might want to steer clear of this deal.
Although it's being sold by MacMall, the GreenDrive is compatible with both Mac and Windows systems. (Linux, too, no doubt.) It includes both eSATA and USB 2.0 interfaces, and it reduces power consumption by up to 40 percent compared with other drives (according to Fantom).
The drive itself spins at 5,400 rpm, but because of its "variable speed disk mechanisms," it performs about on par with 7,200-rpm drives (again, according to Fantom). The company backs it with a two-year warranty, which is definitely better than average.
The GreenDrive ships without any software to speak of, so be sure to check out my post on three excellent backup programs that don't cost a dime.
I know, I know: rebates bite, especially when there are two of them. But I've shopped around and haven't found this drive selling for less than the pre-rebate price ($77.49). So if you're in the market for a terabyte of storage, consider the rebates icing on the cake.
Bonus deal: Speaking of cheap storage, you can score yourself an 8GB flash drive for $11.03 shipped. It comes from a very positively rated outfit called Audio Savings, which is selling the drive via eBay. Drives like these are ideal for things like rescuing your PC from malware. Quantities are limited!