I agree with Alpha, I just did this from scratch a few weeks back, got a 120GB WD 8MB 7200RPM for $220 shipped from googlegear.com and a nice looking clear oxford911 enclosure for about $110 from cooldrives.com Less then $350 for everything, and the enclosure looks sweet, and the drive as even better. Very fast and VERY quiet, overall I am very happy, though you maybe able to beat the prices now, these things seem to change by the hour!Originally posted by AlphaTech
One thing you might want to consider doing is getting a FireWire enclosure for an ATA hard drive. You can then install just about any ATA hard drive you want (get the brand you like best). There are some that support the 160GB drives, but pretty much all of them support the 120GB drives. I did this for a spare 40GB ATA drive that I had hanging around. It also has two FireWire ports on it, and has a nice shiney metallic look to it (clear plastic over the metal). I got mine from OWC, since they had good pricing, and I liked the looks of it the best of all offered.
If you go that route, you can get the enclosure and then wait for the hard drives to go on sale that are local to you. You can also stack them just like any other FireWire drive/device.
Might be the best of both worlds for you.