A good number of the new and recent boards seen now are strictly Sata III no longer seeing Sata II ports on the board. That's likely why you are now seeing lower prices on S3 drives then with S2 since everybody will be buying the newer while the vendors still have to stock the older!
As for taaking a look at the other OS the best move for any first timer would be booting with a live cd-r. Ubuntu is the most popular being small but as small as some like Puppy Linux. Another distro with a live/live to install live dbd image that looks even better while larger would be Linux Mint.
A live cd can also serve another purpose at times many are not aware of. How about a data rescue stick using a live distro to custom install the other OS onto a usb flash drive for example.
http://www.sevenforums.com/chillout-room/11844-using-other-os-usb-rescue-device.html
The cautionary note is to also have the 7 dvd or repair cd containing the 7 repair tools onhand before ever attempting this in case you end up replacing the 7 mbr with Grub! Grub the other guy's boot loader has to be installed to the flash drive where two partitions are created not one as explained there. The second being the root//swap file system partition while the first much larger partition that Windows can see is formatted to NTFS.
If for some reason your present 7 installation won't load and you need access to files fast this is where something like this would have an application especially if the 7 main drive has to be wiped clean. Always sweep a flash drive with a security program following a data recovery if there is any indication of malwares however!
The guide there is mostly for the advanced user as one other thing to mention here. For now however a live cd would be the idea for the first look. A live cd can also be used the same way only not having any room to save files on the live disk itself.
Another guide for a one time small distro like ubuntu Knoppix now a large dvd sized release explains this.
Computer First Aid Using Knoppix
As far as caches on drives the largest seen with any is 64mb like this Hitachi 4tb model.
Newegg.com - HGST H3IK40003272SP (0S03355) 4TB 7200 RPM 64MB Cache SATA 6.0Gb/s 3.5" Internal Hard Drive -Bare Drive
That's a wee bit too high on price right about now however! Another 3tb drive with a 64mb cache goes for far less try $170 seen at
Newegg.com - Western Digital Caviar Green WD30EZRX 3TB IntelliPower 64MB Cache SATA 6.0Gb/s 3.5" Internal Hard Drive -Bare Drive
Too bad that wasn't the WD Black edition series for the Sata III drive there.

The 4 internal HDs are all Black Edition series 1tb drives while the 1tb in the external enclosure is a Green Power low perfomance series.
Here I knew I would need more drive space for the OS drive for various projects like VMs and video where drive space becomes a commodity. The 500gb should work out for you there however not likely to see anywhere near as much data on the main OS drive.
When planning out a new build or buying a new OEM machine then you would be more likely to look at all options available since you will be looking for a total cost on everything when going to upgrade. The larger cache mostly is for the larger capacity. 32mb is good for a 500gb.