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i don't think that their that huge of a factor. if your cpu speed and amount of ram are upto par than you'll mostly have long loading times durning game start-up and whenever the game is loading another section of itself.
my suggestion would be any EIDE/ATA harddrive that is at least 7,200 rpm with a 8MB buffer. now some people might recommend certain but i personally have never had any problems with any of following brands: seagate, maxtor, and western digital.
as a side note: if you have the money to burn than you might want to look into western digital's raptor line of hard drives. they're 10,000 rpm drives and are made in two sizes 35GB and 74GB. they're more expensive than other EIDE drives but i don't think they'll break your bank.
Only when the game is really big and when the it's having to swap alot. If you've got a gig of RAM once the game is loaded you probably won't be able to tell.