I want to buy 3TB external drive:

WD My Book Essential 3TB USB 3.0 [WDBACW0030HBK-EESN]
or
Seagate External Desktop Backup Plus 3TB USB 3.0 [STCA3000200]

Which one do you recommend?
What do I need to know about formating? Do I need to make partitions? Is Ubuntu able to handle 3TB?

I will use it for storing large video files from video camera and tons of pictures.

Is there a chance that the price will go down sometime this year?