A “paragon” is defined as being a model of utter perfection or an ideal embodiment of a concept. When it comes to external hard drive enclosures, you can’t get terribly creative, so I can’t see how the Vizo Paragon is “perfect”. That said, it looks kind of pretty doing it.
As the Paragon is simply an enclosure, not being bundled with any kind of storage device within, you can make it as big or as small as you’d like, so long as you stick to hard drives of the 2.5-inch variety (and keep it under 160GB). Transfers are quite speedy with a garden variety USB 2.0 interface, and it’s got a couple of LED lights to tell you what’s going on: a green one to say it’s ready to go, and a red one to (I suppose) tell you that it’s doing something so you shouldn’t just unplug it.
I’d probably opt for the USB-powered option, though they have an AC variant as well. The Paragon works with IDE hard drives, but if you’re more of a SATA kind of person (including eSATA), then you’d want the Saturno, an otherwise identical enclosure.
The Vizo Paragon is available in either white or blue aluminium. No word on pricing, but my best guess has it in the $40 range.