Hacking Is this USB drive good for backup loaders?

[Agu Fungus]

Hi, I was thinking of giving USB loading a try, and I was wondering if this external hard drive is good for my Wii console:

cirago 500GB USB 2.0 Portable Hard Drive CST1500 - Retail

If not, which do you recommend (one that does not use power adapters if possible, and at a good price, too).

And while we're at it, which USB loader do you recommend the most? And what is WBFS for (yes I'm new at this, sue me)? ^^;