After several years, my old exterior hard drive which I used for backing up my MacBook failed completely. It was until then very dependable, and (I thought) very compact and tidy (although it had a firewire connection and needed its own power source). So, I looked around and found this and decided to give it a try. My opinion is that it's very good.
It is extremely compact and very good looking. It attaches to the MacBook using a USB 3 cable. My MacBook is not USB 3 enabled, but not a problem, inasmuch as the drive works very handily with USB 2 as well. The setup takes about 5 seconds: plug the USB port into the MacBook, plug the other, dedicated USB 3 end, to the Drive, and click. I had 58 gigs worth of data to transfer and it took a little less than an hour using Time Machine on the Mac. Since then, updates take about 30 seconds each. Works with Windows too, apparently.
Verdict? I'm going to buy a second one to keep with me when I go to the office or travel.