Amazon has the Western Digital Elements 2TB USB 2.0 Desktop External Hard Drive for just $70 with free shipping. That is $110 below MSRP, $30 under the average street price and $20 less than the next best price available.
The WD Elements drive sports USB 2.0 speeds so don’t expect to be blown about by transfer rates, but it does feature 2TB of storage which is perfect as a back up drive. Over 3,100 Amazon reviewers rate the Elements drive 4 stars. Also available at Newegg.