You will find really good deals on USB drives, for a hundred bucks I got an 320 Gb USB 2.0 external drive.
Yeah, Firewire 400 is still better (Firewire will have a constant rate, while USB 2.0, who is theorically 480 Mbps, can only do it in small burst, so it became slower the bigger the transfer is), however USB drive are still cheaper.
It's up to you if you want to spend extra buck on a FireWire drive. In my opinion, if you plan this only as a backup, the difference between FW400 and USB2.0 is not worth the price difference.
Also, if you plan buying an enclosure apart from the HD, buy the enclosure First and then find a HD that is compatible. The reason I say that is because I have a 100 Gb SATA HD and I wanted to buy a FireWire Enclosure for it. I got to some shop, even Apple specialized one, and they never found a FW enclosure that was SATA.