I am running out of room on my pc and Xbox for games/movies storage. Do you guys know of such a device that works for both, and preferably at the same time? I don't want to unplug it from my Pc to use on my Xbox then back, over and over. And would anyone possibly be able to point me in a direction where I could find said device at a reasonable price? Only looking for about 1TB I suppose. Thanks in advance blades.
You can't run a hard drive on two devices at the same time. You will need a USB switch. Kind of like this one http://www.amazon.com/Kensington-ShareCentral-Device-Sharing-K33900US/dp/B0014IUVQA
Some high end/expensive routers these days have a USB port to plug in an external hard drive. If you don't have that capability, your only other option would be what West Coast said