TheCheese33: So if I have a FireWire connection on my desktop, will that allow for a consistent, high-quality Blu-Ray image?
The image quality will be the same no matter what interface you use. If you use an interface that isn't fast enough then you'll get stuttering playback, but pristine image quality.
According to
the Blu-ray article on Wikipedia, the maximum data rate for movie watching is 36 Mbit/s = 4.5 Mbyte/s. Any modern interface should be good enough: USB 2.0 will give you around 20 Mbyte/s, Firewire 25-30. SATA, eSATA and IDE will all be faster than the drive is capable of, so you'll be good in any case.
That said, I would recommend an internal drive if you're on a desktop computer and willing to open it in order to mount the drive. Internal drives are cheaper, and you won't have to use a separate power supply like you'll need for an external drive.
If the choice is between USB and Firewire then Miaghstir is right - Firewire is considered to be better, but is a bit more expensive. I'll guess that the greatest difference you'll notice is that Firewire will put less load on your CPU when in use.