Yes you can, I have a seagate 320gb. Sits neatly next to ps3, very simple to use, plug and play.
Although you would need to reformat to FAT32. To me this sounded like a b**l ache, but it was simple I used a free program called Swissknife.
It been fantastic, still ploughing through my CD,s until they are all in the little black box. Then its the loft for the collection!
It runs silent and its 7200 speed..