EverythingUSB is mentioning that Taiwanese OEM Welland has — at least as far as they know — the first USB On-The-Go (OTG) hard drive. It also has a built-in card reader, USB host (duh), and a rechargeable battery. USB OTG is pretty simple, and pretty great. By adding a USB host to storage, you can hook your digital camera or anything else that supports the standard up to it and transfer data without needing to hook up to a PC. That is a positive thing.
That being said, I have a hard time believing this is the first USB OTG hard drive to see the light of day.