Just saw that the price of the WD 500GB USB external drive is reduced to Rs 8,000/-. :clap: (unlike the USB + IEEE which is ridiculously priced at 10K
but hey...not many people even have firewire.)
Source: http://www.computerwarehousepricelist.com/downloadpricelist.asp?file=Pricelist.xls
At this price, I think it's worth going for this as a readymade externalized solution. If one has to spend around 6.6K for a 500GB SATA/PATA drive and then spend 1.8K for a good quality Transcend casing or Rs 600/- for a plain looking zippy case, it might be worth considering this esp. if you don't want to go through the hassle of installing the drive in the case or worrying about case quality.

Source: http://www.computerwarehousepricelist.com/downloadpricelist.asp?file=Pricelist.xls
At this price, I think it's worth going for this as a readymade externalized solution. If one has to spend around 6.6K for a 500GB SATA/PATA drive and then spend 1.8K for a good quality Transcend casing or Rs 600/- for a plain looking zippy case, it might be worth considering this esp. if you don't want to go through the hassle of installing the drive in the case or worrying about case quality.