Yes, that will work. You might want to take a look at this:
http://www.newegg.com/Product/Produc...82E16815124014
Cheaper, and has good reviews. Sometimes there are bad products out there, and you don't want to end up with one.
BTW, ever since HP bought Compaq, Compaq has been pretty good. The reason I suggested that laptop was because it had better overall specs (processor, hard drive, graphics), and more room for future upgrades.
In addition, the Express card interface is much faster than the PCMCIA/CardBus interface, so you would see much faster transfers through firewire.