I bought this to back up my newly built system to and also I was planning on digitizing all my movie collection and this just seemed to be a good solution for both storage and backup! I've had it for 2 months and I think I have had enough insights to write a review! So here it is!Speed: As a storage drive this is a great performer especially the USB 3.0, it is 4 times faster than USB 2.0 (see the images I've uploaded on the product page), I love the fact that huge file transfers (i'm talking 100's of GB) takes less than an hour to complete! Backup also is blazing fast especially if you have set the utility to incremental (don't use the software that this comes with, more on that in a second)!Reliability: It has weathered 2.5 months of daily use and extensive use very well so far, but it is too early for me to comment on this! Hopefully it would fare better than the Seagate I had before, that is junk!Format: It is primarily designed to work with Win 7, and hence the the file format is NTFS, which is the best format for a hard drive this big, but for whatever reason you are buying this for a FAT32 system (like a PS3), then don't because it is going to be a PITA, and also you would not be utilizing this drive as it is designed to be used! So for PS3 owners you are better of buying a much smaller HDD and then reformatting that to FAT32 - there are utilities out there which would do that for you!Enclosure: I'm not the biggest fan of WD enclosures, but this one is not bad! However I had a terrible issue trying to get this to be recognized by my ASUS LGA 1155 Intel Z68 DDR3 2200 SATA 6Gbps and USB 3.0 Supported ATX Motherboard P8Z68-V motherboard! I did read on WD forums that I was not the only one with this problem and neither was this a problem with ASUS MoBo's, it did recognize other USB 3.0 devices without any issues! So one star down for that! I finally had to disable the legacy USB 3.0 support in BIOS to get this to work well with the MoBo (that was counter intuitive, disable the very service you want to use and then it works)! It gets a little loud and hot when you have used it continuously for a few hours!Included Software: I would not recommend anyone to use the provided backup software along with this drive, it is far from being finished as a product and has a lot of bugs, also DO NOT use the security password utility to lock the drive, it sometimes just won't function! If you are worried about someone stealing your data, use an encryption tool and not the password. Maybe this was a rare instance but why take the chance and be left with all your data in your hand but inaccessible because the drive is locked with a password you provided! WD should really invest some time and money in developing their software that is bundled with the hardware or should just tie up with Acronis or another back up software developer to bundle the products! This was my biggest crib and criticism with this drive!Value for Money: I got the 3TB for $135, 2 months back, thankfully before the floods in Thailand and the skyrocketing of the HDD prices, they estimate it might be months before the prices come down! So I am pretty happy with the value - that is roughly 4 cents for a GB (WOW...!), that is awesome! Right now since the supply for HDD's are limited due to a halt in production, the price is huge and not the best value for money proposition, so unless you need the drive extremely urgently, postpone your buying decision for a few more months and you would get much better bang for your buck!So overall I'm pretty happy with this purchase and I have had no data losses so far, which is the worst thing that can happen to a backup drive. Hope this helps someone who is planning a similar investment - check the WD forums for the USB 3.0 connectivity problems with your motherboard!