Running Out of Space?

I have accumulated so much digital content in the last 12 months that my PC is just about left with 1/5^th its total capacity. I though a 250 gig hard drive on my desktop would be sufficient to meet all my needs, but this obviously isn't the case, Hence I recently picked up a 500GB Seagate Free Agent Drive to dump my DVDs, MTVS, MP3s and images. The drive runs at a cool 7200 rpm and requires an external power source to fully operate.