If it's just static data (e.g. you want to stuff the drive full of movies that you'll carry around), then it doesn't matter. You can fill it up to 100% without affecting the performance or longevity of the drive. The last movie you put on it may suffer due to fragmentation, but the drive being full of data won't cause any mechanical problems.
But if you plan to actively use (write to) the drive, then yeah, you want to keep about 10% of its space free. Defragmenters start to have problems and take a lot more time when you drop below about 15% free space.