So I guess this somewhat of a tip, and maybe an obvious one, but I just got an external LaCie drive. 500gb 7200rpm with USB, Firewire 400/800 and eSata connections and a 16mb cache.
In a nutshell, it has fixed the most nagging problem I have been having with Modul8. Mainly that my larger clips would stutter a bit or be jumpy and slow. Now everything runs smoooth. It is very nice!
I'm only running it thru Firewire 400, because thats whats on my MacBook Pro, but I might get an eSata express card to bam things up a few more notches!
Bam it with the spice weasel!
Anyhow - it is very cool to know that the sluggish problems I would have sometimes, were much more a result of simple slow drive speed, and not the software or my computer.