BUY.COM has a deal on a Fantom external USB 1 TB HDD. The price is $149.99 and has a $20.00 mail in rebate offer until the end of July 2008. This is a reconditioned drive.
I will be the first to admit, I have not had good luck with Fantom external drives, they seem to be flaky. I have after having issues either sent them back to Fantom for repair or I have opened the enclosure and used the HDD as just another internal HDD.
The price is good even for an external 1 TB drive and/or it still comes with a warranty.