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I believe it must be at least equal to the amount of used space on your internal HD. Keep in mind, with a small drive you will be limited in how far back in time you can travel.
 
Sounds like the answer is "whatever size you want and want to backup".

Might look into this more, if it is flush it could be a good option, though read/write times aren't that impressive. I just want to do something with that slot, seems like a waste to just leave it there empty.
 
SSD is a dumb idea for backup.

Put a SATA host in the Expresscard slot and use a much cheaper and bigger SATA external harddrive
 
Wow "dumb" huh, not really necessary to berate my choice of backup solutions, especially since my methodology of backup wasn't on the table. Your external SATA solution isn't very appealing since the whole reason I wanted to use the SSD in the ExpressCard slot was so it would always be with the laptop and would cause minimal daily interaction on my part.

Now I have a 2TB NAS so I intend on doing backups to it as well, just thought this might be an interesting use of the lonely ExpressCard slot. Sorry I offended you. HA
 
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