The LP and the 7200.12 aren't the same drive - I don't know about the LP, but I do know that the 7200.12 has been a very reliable drive. Overall failure rates are quite good.
Hmmm... since my LaCie 4Big Quad RAID died (for 4th time) and had to finally be sent back to LaCie, (which incidentally has 4 1TB Seagates in in it) I had to make quick decision and at least have 'some' back-up; and despite advice of OWC tech to go with WD, I instead took advice from local Mac tech and went with the Seagate. Hope I don't end up regretting that decision. If I start to hear clicking I'm going to be mighty disappointed.