My mpeg is all usb 2.0 In fact I use usb 2.0 to ide adapters on all my drives in a tower, then I add a Plug in HDD tray and with the 2 I can unmount any drive and swap it without rebooting the machine .. (Until windows crashes of course) , but it mostly works fine. and its perfect on the macs and Linux boxes too.
Then I can swap out drives at will. All my edited Mpeg encoded files are done this way (ready for DVD writing)
But for the raw video coming in from the Camera its firewire all the way. We have raid arrays (terabytes) that are FW800 connected and a Set of camera's also FW800 connected and waste a box as a simple transfer device. but that way everything is saved and clean.
My Reason being USB data is bursty, that is the data is not steady, it builds to a mass and then is dumped to the drive, this makes the transfers unsteady and there is a risk of timing getting messed up which is is a real problem. USB and Raw video have never been a good combination to me.
Firewire, I-Link IEEE 1394 or whatever you call is is a steady transfer so the data flows smothly accros the connection. this make for a better raw capture.
So in a nutshell. If you are dumping an HD video camera to drive using USB you could have problems with timeslips. which is why video uses firewire. 400 V 480 .. not much to it. Smooth V Burst lots to it.
Top end gear uses FW 800 which is the best, but pricey. For the average home user USB 2.0 is all you need. Unless you have a real high end machine the processor will be so busy that your data flow will be small. Even on my dual G5 video suite mchines we dont often hit transfers much above 150MBits/S on compiles unless we are working on files that need no translation. On the Quad its all firewire.
FW is really needed for capture devices far more than Hard Drives, unless you are saving raw uncrompressed DV in which case you need Big raid arrays anyway .. so for the average user what's the Big.