my first post!
saw this on the Officeworks website - it's the newer version of the My Passport pocket hard drives (the Essential range) from Western Digital (smaller, looks slightly better).
For some reason, the blue one is $129, whereas the other colours (black/white/red) are all $179 for the 500GB version (the older version is there for $129 in assorted colours). Windows 7 is supported, also Mac compatible (needs formatting).
Says online only - the one I bought is on backorder, although I noticed my card has already been charged…
cheaper options galore
http://staticice.com.au/cgi-bin/search.cgi?q=500GB+2.5+exter…