We've just come back from a brief stay away, and of course I took my back-ups with me. One of those is a hard disk (2.5") which at 60GB is just about large enough to carry a copy of all my files and stuff which isn't otherwise archived away on DVD (onsite and offsite). The problem is that 60GB is not enough for everything I might want to store.
Meanwhile, in my MacBook Pro, 120GB sounded like a lot, but by the time you include the OS, the files I use regularly and all the virtual machines (through the always excellent Parallels), it really doesn't seem like a lot.