A USB drive is an option, but I feel they're a mechanical liability.
Amen to that! Too many reasons.
The exception is for storing VIs. All NI libraries should be stored onto an external. Setting up Native Access to work correctly can be a bit tricky and confusing but, once one figures it all out, this works great. There are plenty of knowledgable users on the NI Support forums that can help. If the USB drive doesn't wake from sleep, shut down, unplug/replug the USB cables and one is back in business. BIAB libraries can stay on the external, too.