Parapunter,
I use a LAN drive. Got the case from Maplin for £30 but it is onlt FAT/FAT 32 capable. You can get NTFS cases too. Clearly not as portable but in my case it is connected to the router.
Powerwise I use a remote control and can power off the drive when not required or I could use a timer that worked to my backup schedule. Problem with that would be remembering to reset after a power outage.
With a backup scheduler program it is fit and forget with an occasional restore to check things.