OK, here goes! I have a copy of Gutsy Gibbon and want to know if I would be able to install it on an external hard-drive and still have full functionality via my main box?
I don't see why not. If you want to boot to it you may want to make the USB a boot device.
Another scenario I would try is VMWare. I run Ubuntu and Vista on virtual machines through VMWare. Eventually I plan to take an external HD and make it a big virtual machine. I burned up all my "splurge" points on the laptop, though, so I'll have to wait a bit before I can clear that purchase with the wife

Gid - I read the specs straight from the box at work this evening. It's not a DVD Burner.
Oh, I believe you, kona. I wasn't doubting you, just saying my info about it being a DVD burner came from the review. You know and I know that reviews have been known to be wrong.
Still, I'm gonna try to get my hands on one. I could use the mini-ITX mobo!