I have 2 harddrives in my computer. I have my OS on the first one, and I use the second one for storing music, pictures, and movies. I remember when I tried to run a game from the second harddrive, it loaded really slow and got choppy at points. Could I store my blend files there? I don’t think it would make blender run slowly, but I think things like saving would be really slow.
What type of connection are you using to the HardDrive?
USB, Firewire 400, 800, esata?
eSATA. I did a couple test blends. Everything seems to be okay. I don’t know though, it could be just because they are small files. One thing I do notice is that all the texture paths get messed up.