Would rather get the 500gb goflex for $90 more.
GoFlex Satellite Wireless | Seagate
16/32g is laughable unless you plan to only stream 480p or super low bit rate 720p (then why bother with 720?). Granted its pretty pointless to stream decent quality 720p to a 3.5" phone, but if you ever get a tablet or decide to bring your laptop for work, you would not need to buy/lug around another device. Also, having optional TB/FW800/eSata connection is sweet (Usb 3 is std).