http://techreport.com/articles.x/14380 for a review of your WD drives....for the 'bang per buck' there wasn't much better at the time (only a year or so ago).
To give an idea on hard drive structure here's a screen grab of my set-up (also used in part for CAD work)
XP has its own dedicated hard drive (C)
Pagefile (E) is also dedicated, but also used for data backups on the inside disc tracks.
Drive G holds all work files (despite it being called Backup!)
Windows 7 has a dedicated drive (H) although the drive its on is for 'flexible' work so it won't be a windows 7 install for much longer.
AppsXP (F) and AppsW7 (H) are actually partitions of the same drive. The drive has been structured so that the XP apps are on the outside of the disc where retrieval times are fastest.
When running in XP, the pagefiles are stored on drives C, E & F using Windows system management. To set-up the pagefile:
Start Menu - right click on Computer, select Properties, Advanced System Settings.
Then select the Advanced tab, then Settings under the Performance heading.
Click the Advanced tab, then click Change under Virtual Memory.
Uncheck 'Automatically manage paging file size for all drives'. You can now allocate pagefiles to any drive you want. I still tend to use the 'System managed size' option - Windows tends to be quite good at it!
The other thing you can think about is putting your two Seagate Barracuda in to a RAID 0 config and use them for work file storage. That way if you have huge models to open they will retrieve and save a little faster.