Yes, because I'm enduring it right now. My 2TB LaCie doesn't have two FireWire 400 ports on the back that would let me chain it to my camcorder, just a 400 and 800. Currently I'm on my first generation MacBook that only has one FireWire 400 port.
Adapter wizardry could solve this, but in Egypt it's not always a simple drive to the Apple store for these things.
Still, that's nothing compared to the bottleneck on my USB 1.1 G3 iMac and its 1TB external drive.