Not cheap for any old 1TB external but this is Fast! Seems a good price for what it is.
Pre-formatted as HFS+. Not ordered myself as I was looking for something quiet for backups and the computer in question doesn't have eSATA or FW800 so this would be a waste, but hopefully good for someone if you have one of those interfaces and don't care if it makes some noise.
Was £199.99 yesterday based on Froogle. Cheapest other current price is ~£140.