Thanks for your replies H@cKer & Ragin_Ice.
I was thinking along the lines of an htpc. Since it's not gonna be the primary PC, I just thought that maybe the portability would help. Hence the query.
So now I guess it boils down to the price of an ext. drive with an esata port versus an internal drive in the context of the quantum of benefit the former would provide.
I'm assuming that the drive with the esata port would perform the same as an internal drive w.r.t. hd movies & games as well.
Thanks yet again.