Windows 7 on an external drive? -

I want to install the beta of Windows 7 on an external HD. This HD will be a sata 3Gb/s drive. I was wondering, if used as a USB 2 external drive, will Windows 7 work smoothly? I will be booting off of this drive. Also, will I be able to play games such as left 4 dead on the external drive? The drive i will be using is the new seagate barracuda 1.5 TB.

Yes it will work.