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Its not a bad price from mwave. Since the 500gb is about $240 on same site:
250gb Western Digital 2.5" Passport (black) = $109
400gb Western Digital 2.5" Passport (black) = $139.98
Postage may be the draw. I think its $13.63 to me (VIC)
For the 400GB one, MSY is $159 and Centrecom is $169 and everyone else appears to be over that, most around $180.
Certain bargain on the 400GB drive.