Among the available file systems for formatting that can be found in Disc Utility, which gives the best transfer performance?

I have a HDD under MS-DOS, which claims transfer speeds above and beyond of 480MB/s, but the actual speeds I have been getting are closer to 300kB/s. Is there a way to improve this merely by reformatting volume to another file system?

If you don't need to use it with PCs, copy any data you want to keep off and reformat it as Mac OS Extended (Journaled). Also, since it seems to be connected through USB 2.0, unplug all unnecessary devices when transferring data to improve performance.
(62387)

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