considering the throughput of USB is 480Mb/s, and most external hard drives aren't all that blazingly fast, I'd recommend going USB. Yes, firewire's 400 Mb/s or 800 MB/s but most external hard drives aren't that fast themselves.
Unless you're editing video. Then, Firewire is the best choice, because high speed streaming throughput is paramount for that kind of application.
Of course, and external sata drive would likely be faster than either firewire or USB, but I'm not real up on using external sata myself. Looking up some stuff on google, I found a few sata external enclosures, so it looks doable.