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external hard drive so slow

Hi, i have just got myself a 160gb hard drive as a birthday prezzie.
It is however, so slow when transferring data, such as burning to a cd from it.
Write speed is 0.70 kb/s.

Now my usb is 1.1 i think.
Is this the reason for the slow speed.

If so, can i just swap my usb hub pci card for something like this...
http://www.ledshoppe.com/Product/com/CA4010.htm
Would this increase speed sufficiently or would i be wasting my time.

Maybe there is another way to speed the drive up??

All advice gratefully received :)

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