Following up on my March 25th post: Synchronize! X won the Mac OS X synchronization software shootout, and has been doing a great job of helping to make my new FireWire drive into a useful tool -- well worth the $30 to register! ExecutiveSync is a promising runner-up, but a key feature for me was being able to exclude folders by name rather than just by path (allowing me to specify that "CVS" administrative directories should be left alone).
One interesting thing I discovered along the way is that copying a bundle (e.g. a .nib file) in Finder touches the modification dates of all of the bundle's constituent files. I suppose this makes sense from a certain perspective, but it can result in some unnecessary copying during a later sync operation. (Fortunately this is not a terribly big deal in my case, since the touched files are typically quite small in proportion to the drive's impressive transfer rate.)
The FireLite itself has been great. -- I'd highly recommend it if you're looking for some compact, portable FireWire storage.