Both of which are big and require power bricks/accesory cords.
I'm looking for a "slip in your pocket on the way out the door" HD that doesn't require me climbing under a clients desk to plug in a power cable. The 6.4-ounce and 4.8 x 3.9 x 0.7-inch dimensions along with being bus powered is the reason for the price per gig being higher... just like a laptop, you pay for miniaturization and portability.
I lost some valuable work at school recently. Even though I was a student at the time, I had borrowed a faculty user account to safe guard a 10 gig dvd project I was authoring. I got the job done... burned 20 DVDs... and came back 2 weeks later with one of my big external drives and it's accessory power cords to back up the project... and the project was gone! Out of 30 computers in a lab, someone else from outside the department had used the faculty login on my computer and threw away all my work sitting on the desk top. If I had carried a small 120 gig drive in my pocket every day, I would have not been chained to one computer, nor risked losing about a 100 hours worth of work, or so I imagine. 
Now, since I'm working in multimedia and trying to build a client base up developing educational and promotional video/flash projects I need portability along with more capacity than a 2 gig thumb drive offers. A small portable drive like this offers much of what I need without having to carry a laptop everywhere I go.
You mentioned FAT32 along with "Apple native or NTFS". If I want to learn more about this subject, what are the key words I should be using when doing a google search please?
Thanks.
grim