Refurbished WD External HD - Good deal?

There is a website that has a deal up just for today, offering a factory-refurbished Western Digital 500GB My Passport Elements SE Portable Hard Drive (model number WDBPCK5000ABK) for $40 plus $5 shipping.

I know I could spend $20-$30 more for a new GoFlex from Seagate, but I just need a backup drive & not something that I will use daily. I am guessing that the risk of having a refurbished drive is outweighed by the fact that I am only using it sparingly as a backup for my primary internal HD.

Does anybody else have experience with either this model or a factory-refurbished Western Digital external who can tell me if this is a decent deal given my needs for just a backup drive? Thanks.

(The website is http://1saleaday.com/wireless/ -- Deal is only good today, Friday 8/3)