What's the advantages / Disadvantages of booting from an external HD?

I have an iMac which I want to boot from an external HD (1TB Western Digital) and I wanted to know the advantages and disadvantages of doing this.
If it's an Intel dual processor, can I use either a USB drive or a Firewire drive to do this?
Thanks for all and any input as well.

You can use Firewire, which would be faster than USB. If the external supports it, FW 800 will be pretty fast. Advantage would be you conserve the internal and place wear on the external, which is then no problem to replace if it dies. Disadvantage might be that moving large files would be somewhat slower. If you do this, I'd keep making backups from the external to the internal using a cloning program like Carbon Copy Cloner or SuperDuper. You might need a much larger second external for Time Machine, if you want to use that.
You should also know that many, if not most, WD externals won't boot a Mac and they have a very flaky reputation with Macs in general. I'd get a different drive period. They are mostly bad news. Unreliable.
http://www.bombich.com/

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