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If you're just looking for storage, buy an external enclosure and buy regular hard drives to put in it. Cheaper that way if you have to buy multiple drives.
Even better.... buy a USB/eSata 'dock' and just buy bare SATA hard disks you can easily swap in and out. I use several of these : http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=4296978&CatId=2785
My advice is not to buy external drives unless you have a backup power supply (which generally means buying two of the same drives). Don't rely on being able to buy spare power supplies if yours dies right at the moment you need the footage.
Serial ATA drives usually spin faster than older ATA or IDE drives. Most drive sold today are SATA drives.