Re: External hard drive question?
No.
Yes.
But you don't really describe your system, so I have to guess there is a single internal drive.
Make sure your external drive is Firewire 800, a supported oxford chipset, and 7200 rpm. You don't describe your audio interface, if its Firewire you may be in for some fun with daisy chaining Firewire disks and the Firewire interface. If your iMac is new you may have Thunderbolt to Firewire, and eventually Thunderbolt connected disks, options to consider to avoid chaining issues.
Darryl
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