Chip has all of his photos on his laptop and would like to get them on DropBox and an external hard drive before it fails. Leo says that the drive option is the easiest and fastest. Then he can just drag and drop them. The problem, though, is that iPhoto puts it all into one huge file called the iPhoto Library. He could drag that file over and then reopen it in another instance of iPhoto, or he can hold down the Command key and click on the iPhoto file and select "Show Package Contents." Then he'll find the original photos and he can copy those over to the original drive.
How about DropBox? Leo says that Dropbox is more of a file sharing solution and would be dependent on upload speeds. If he has a ton of photos, it would take forever. And he may not be able to use that old laptop to upload. So Leo recommends going with the drive option.
Leo also says he'll want to make sure that the drive is properly formatted for FAT32 due to the age of the laptop.