Yeah I've got a powered seagate external. Morrowind load times, saving and transitions to new areas are faster.

Yeah mostly it's because your internal drive is basically dedicated to OS now, but usb 3.0 is part of it.
Think I read somewhere that if you have an internal ss or hybrid the differences aren't noticeable, but upgrading the internal isn't as easy as say PS3...plus externals are cheap and you can use more than one (use what you have now and add another later instead of installing everything again to a larger drive).