I think a good route to go would involve ordering a bare drive and an aftermarket enclosure. Since you said you want to take this traveling with you to give and receive FLAC, I think having a bus powered drive would be key, so you wouldnt need a wall outlet. I took an old IDE hard drive from an old laptop that had supposedly failed, put it in a 10$ enclosure with 2 USB ends that is bus powered, formatted and it worked fine. Still have it 1 year later, no problems. I also had a WD Passport 2.5" sata drive that I originally bought used, about 3! years ago, and just recently it was "beginning" to fail (mounting and transfer issues). I bought a rocketfish enclosure with E-Sata connectivity, although it requires a wallwart, and my transfer speeds have never been better, along with all "failing" symptoms gone.
As far as warranties go, unless you have a 5 year one or something, I doubt it would last long enough to until the drive fails. I am not the one to talk to about drive failures (lucky!!)
I would recommend WD, and even toshiba, just because I was able to salvage a toshiba drive from a laptop. Seagate I hear are pretty good. A friend of mine has had a small portable one for over 4 years. But as with any company, there are always lemons. If you go onto amazon or some place with reviews, there will always be 1 star ratings because people got lemons and had bad experiences with customer service.
just my $0.02, good luck on your search