Looking for a good external harddrive

I'm looking for a good, reliable, affordable external harddrive. I need something that's at least 120gb, and I don't think I'd need anything over 250gb. I would like to spend around $150, definitely less than $200. I'm also looking for something with mac-compatible back-up software (one-touch would be nice).
Any suggestions?

Yeah, build it yourself. If you can use a screwdriver you can make your own:

320gb Seagate hard drive: $95
http://www.newegg.com/Product/Product.asp?Item=N82E16822148139

Macally Firewire/USB 2.0 hard drive enclosure: $43:
http://www.newegg.com/Product/Product.asp?Item=N82E16817146602

iBackup: Free
http://www.grapefruit.ch/iBackup/

SuperDuper: Free ($28 for version with additional features)
http://www.shirt-pocket.com/SuperDuper/SuperDuperDescription.html

About $150 shipped

Put the hard drive in the enclosure and format it using HFS+ (default) in Disk Utility. I use iBackup for doing a daily backup of specific files (I keep my files organized by folder, which makes it easy to back things up). I use SuperDuper for creating a fully bootable clone of my hard drive. I do this weekly but only because I use my computer for both work and personal use, so I'm paranoid about it. You can do it monthly if you prefer. Cake.

Thanks a lot. I'll definitely take that into consideration. My only issue with the products you've recommended is that the newegg customer reviews aren't fantastic for either the drive or the enclosure.
Right now it's a toss up between what you recommended and what a friend pointed me toward on www.macsales.com (OWC and NewerTech). We'll see how the prices/warranty info match up.

Thanks again!

i have a 250gb OWC mercurity elite pro external. Its good, haent had any problems with it but it was expensive. I have a 160gb WD HD(my imac HD is 160gb too) that i ordered an enclosure for earlier tday. I have no space left on the OWC drive and i was debating whether i should get anothet OWC drive or buy an HD and enclosure. I foundd that WD drive so i bought an enclosure.I thnk that you should go for the drive and enclosure.