What is the Best External HD for Massive iTunes Library?

Hello,
I recently lost my entire 140 GB iTunes library (along with hours of raw and edited video and audio recordings) when my cheap Iomega 500GB decided to start making a ticking noise and crap out on me. I had my library backed up through iTunes on 9 DVDs a year ago, but i still lost everything I had accumulated over the past year and a half.
I am looking for the best external HD with the fastest transfer rate (USB/Firewire 400). My top priority is reliability and I need my data to be secure and safe, not necessarily disaster proof like ioSafe drives, although I would like it to be able to take a simple fall in case something were to happen while moving it. I just don't want to have to go through this again.
I have also heard about making my own external HD but am clueless about the process. Might this be a better option?
I am also entertaining the thought of buying an Acer One 160GB to use strictly for my iTunes Music (no video) since I would like to make my library more portable. I read an article about moding one to run Leopard, but the directions were a bit over my head. I guess I could put up with Windows (EEEK!) just for iTUnes Music purposes. Help!!!
I have a Macbook 2GHz Intel Core Duo and 2 GB DDR2 SDRAM and use an 8GB iPod Touch. (if this makes a difference)

i know this isn't exactly what you are looking for but it REALLY works for me & covers a few ( if not all..) of your requisites.
i have 2 WD 2Tb My Book external drives for my iTunes library : one is the library , the other is the back up & is usually disconnected just in case....
then i have the very same set-up for video/movies. the whole shebang connected through Logitech USB powered hubs & i NEVER have any hiccups during music/video playback. then my iMac is connected via an external USB sound card - M-Audio.. - to my stereo & via mini-DVI to HDMI to my plasma display. how well does it work ? bloody amazing, i'm done with DVD players & CD players.
although it has faster data transfer rates, i think you don't REALLY need to go FW- a lot more expensive drives... - & if 2Tb drives are a little too much , check out WD range, they do have smaller drives although i have found that the 1Tb drives have the best capacity/price/performance ratio, at least here in Portugal
maybe you could set up something static at home with a beefier ( capacity wise..) drive & then have a smaller , both capacity & size wise to go on the move ?
best wishes

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