yes if you use the FW800, for example. I backup my Aperture lib to two drives one is a FW800 and the other is a USB (both WD's)
The FW is around two hours quicker (Aperture lib is 920 GB)
Same for my iTunes lib (around 1.3 TB) it takes about 14 hours with FW800 and around 17 hours on USB
note I say "about" as this is the remain time shown by the finder as the copy starts, I tend to set them going when I get home from work so by the morning they are finished. I have not sat at my machine and watched them. All I can say is the FW800 is always finished before I go to work the next day, the USB will hot have finished and always say a few hours left to copy if I check it before I go to work.
If your moving around a few Gig at a time it maybe not that much. If you want to run your photos from the external drive then FW800 is a big YES over USB