Western Digital My Passport Essential 500GB External Harddrive

I have been meaning to buy EHD for myself because I have been losing space on my computer because of too much files that I have. Finally bought an External harddrive last weekend and I bought this Western Digital My Passport Essential 500 GB External Harddrive for only Php5,400 (around US$113)in Virramall Greenhills (actually i forgot the name of the store).
Accdg. to Amazon

+ Nice portable form factor that easily connects via USB
+ USB powered, no A/C required, which is great for portability
+ Works well on Windows Vista, XP and Mac OS X
+ Easy to set up disk encryption for security and privacy
+ Nice looks, and cool color options for those that care about that
+ Turns on and off with your computer or easily ejected via system tray
+ Easy plug-and-play installation
+ Integrates nicely with my growing stable of WD MyBook drives
+ Included software may be useful for some novices
+ Drives are sufficiently durable holding up to normal use over time

I looked around and that is the lowest price that they have there and I was in awe when I saw the 1TB Western Digital external Hard drive is of the same price. I just bought the 500 gb because I need a more portable and light weight one and that don't need a power supply.