From personal experience with that very drive I can tell you that it comes pre-formatted with the NTFS file system format (Windows - specific) AND it comes with some add-on Western Digital software that you absolutely DO NOT NEED OR WANT TO INSTALL.
When you get your drive, simply plug it in so that it mounts to your computer, run the Disk Utility application that is in your /Applications/Utilities directory, highlight the disk partition (not the drive mechanism listed just above it) and then choose "Erase" and pull down the list of formats to HFS + Journaled, then click OK.....you can rename the disk to a name of your liking. The result will be a Macintosh - specific formatted hard drive that will perform exactly the way you desire for your Time Machine needs.
