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Pros: Fast, still working perfectly after 9 months.
See the 5 year warranty? That means WD stands behind their product, unlike some other 'cheap' brands.
I think this model currently offers a good balance between price, speed, capacity, and noise.
Cons: Relatively noisy when seeking.
If you only have HDDs, that won't be as big of an issue, unless they're very quiet. If you have an SSD, use that as your system drive and put your bulky data like music, pictures, movies, on this massive drive. Then you get the best of both worlds, your programs and games will run super fast and quietly, this drive will only make noise occasionally, and it's fast enough that it won't slow you down too much (at least until we can all afford multi-TB SSDs!)
Other Thoughts: Do I trust this drive with my data? No. I don't trust any hard drive with my data, which is why I make a daily backup and you should too. I have a 3 TB external drive and use Macrium Reflect to make a quick+painless incremental backup of everything *every* day.READ FULL REVIEW
Pros: Surprisingly fast, USB 3.0, quiet, cool to the touch, quality construction - like a solid piece of metal, sleek design, 3 year warranty, good backup solution
Cons: Bright blue power LED - who decided bright blue LEDs were a great idea? It matches my tower but I don't like that either...
Other Thoughts: Other reviewers have said and it's true, this drive won't work with Windows backup (including Win7) as it has 4K sectors. That's not a problem with the drive in any way, but rather Microsoft not supporting native 4K sector drives in their backup program. They knew about this and chose not to support it. Supposedly Win8 adds support, in fact, I don't plan to upgrade just to use this drive with Windows backup... Everything else I've tried works, including other backup software (Macrium Reflect - no prob), and of course you can easily do normal file transfers.
This drive is a great investment for a backup drive, which is how I use it, in my experience externals are less reliable under heavy use which is why it's only a backup for me (I got a 2TB WD Black at the same time). Think about how much your data is worth to you, it should be worth paying for a quality backup solution, and this seems to be one.