IMHO... not really.

All the tracks and files will still need to be loaded to memory....

A faster lappy will get the files loaded from wherever they are stored. Unless the lappy is a dedicated music machine..... I'd run it from the external drive..... It's amazing how fast those internal HD's will fill up.

You can always try the external method..... if you don't like it or it takes too long to load files, you can always go back and take the time to install the files on the internal drive.

The quick install takes about 5 minutes.... installing on the internal for a full install takes over an hour....at least it did for me.

On my studio DAW, I have 2 internal HD's and 1 external back up.... 2.5TB total..... I did load BB/RB into the drive because it's just a music computer..... nothing else, and not connected to the internet.

On my Dell vista lappy, I ran it from the PG HD..... no problems there. I no longer use the Dell for recording.

You can find my music at:
www.herbhartley.com
Add nothing that adds nothing to the music.
You can make excuses or you can make progress but not both.

The magic you are looking for is in the work you are avoiding.