If you need more HDD space buy a large HDD and use it as a secondary hard drive. Use this drive to store your important files as well as your "large" media files.
If you can make sure to place this second hard drive on a channel other than the one your current drive is using.
Use the smaller (current) HDD for the OS and application files.
Also, just placing new hardware in the box doesn't always lead to a speed increase. Even if it does you can often times go a little fast with minimal software tweaking to the OS and the applications you use.
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