question about storage

[Scarface32]

I'm thinking of moving all my iTunes content to an external drive to free up internal space. Would a USB 2.0 drive be sufficient to play my iTunes movies and TV shows off of?

My computer has USB 2.0 and FireWire 800 ports. FW800 drives can be pretty pricy, so I was wondering if USB 2.0 would be good enough. I know it's not the fastest thing in the world, but would it be fast enough to watch a movie on my computer without stuttering frames?

[Show spoiler]
I don't think it matters, but here's my computer specs:
2.93 GHz Intel Core i7
12 GB 1333 MHz DDR3
ATI Radeon HD 5750 1024 MB

Two displays:
27-inch (2560 x 1440)
24-inch (1920 x 1080)

[ColinD]

yes USB 2.0 speeds should be fine.

copy and paste:

The now-aging USB 2.0 standard can theoretically transfer data at a very high 480 megabits per second (mbps), or 60 megabytes per second (MBps).

[Zu Nim]

HD content from the iTunes store averages about 5Mb/s, which is less than 1MB/s. Even the worst USB 2.0 chipsets can achieve 20MB/s. There won't be an issue. (Or if there's an issue, it won't be because of USB 2.0.)