Some older motherboards / BIOS code and OS's dont support large drives, but it looks like you should be ok. For furture reference when posting questions please provide all the specifications associated with your system.
I hear the WD Caviar blacks are getting good reviews.
WD Caviar Blacks are very good and fast. WD's Green line are a little less expensive, a little slower, and use less electrical power. The "slower" part is not enough to affect your uses significantly - the Greens might bother gamers who demand the ultimate in speed. Among their large-volume products, WD's Blue line is their lowest price, slowest line.
Seagate are also a major supplier, plus others. Look around the web for reports of reliability. Some people much prefer one brand over another on that score.
Western Digital says they use "up to" 40% less power. Sound exciting, but realistically it be more like the difference between 6 and 8 watts under load. You should be fine either way. There are several reviews/benchmarks on this site about these and other drives.
In my area there is only a $15 difference in price betwen the black and green.