external hard drive set up with Pro Tools

[fmbighair]

I just purchased an external Seagate 300 GB USB 2.0/Firewire drive for my Apple Powerbook G4 w/40GB HD laptop. I have MAC OS 10.2.8.

I am about to hook up this hard drive and wondering if I should go Firewire which is rated at 400 Mbits/sec or USB 2.0 which is rated at 480 Mbits/sec? I would think USB 2.0 would be better because of the 80 Mbits/sec but the hard drive manual states that, "BounceBack Express" does not support the pushbutton backup feature for a Mac OS that is using a USB interface?

I am also planning on leaving the application files on my internal HD and the Pro Tools session files my external. Should I do this with my other multimedia programs as well?....iPhoto, iMovie, iDVD, etc....?

Also wondering if I should partition the external drive when i set it up because it's so big?

any advice would be appreciated!