I want to get a 1TB drive and I'm looking around on Newegg and I found this: Newegg.com - Western Digital My Book Essential 2.0 WDH1U10000N 1TB USB 2.0 External Hard Drive - Retail

I'm wondering why such a high quality brand has such a low price. Is this a reliable drive? It's not going to die on me in a couple years is it? Anyone have any experience with this particular drive? I have a plain 250GB WD external that I've had for about 4 years now and to this day it still works great, so I don't know.

Also, if I were to buy a 1TB drive, how much of that space would I actually get?

Generally I like WD, but they're Mybooks are notoriously unreliable. if you had a terabyte hdd, you would have about 930-940 gigs i beleive

That's too bad.

What kind would you suggest?

The reason a 250gb drive shows up as less, is they just truncate the numbers for advertising purposes

So if you get a 80gb drive (as an example), which has 71.1gb on it...add the 8 odd mb that's left over from the partition...convert that 79.1 to kb (which is around 80998.4kb), and convert those kb into bytes...you get 82942361.6....
So they just cut the last few numbers off and say "yea, that's close enough to 80gb...deal with it"...that's how it used to be, and now larger drives you're losing more space...but, we deal with it because we always have

I dont own one, but I have heard good things about this one. Im usually not a big fan of seagate, but these are supposed to be really good.
Seagate FreeAgent Pro 500GB

FreeAgents are good, we use them for many of our clients at work.