Irvine-based I/OMagic has announced a new 60GB USB-based portable storage device. The company's latest product, the GigaBank Elite 60GB, provides USB 2.0 capability and 60GB of disk storage. The new device uses 1.8-inch hard disk technology and a single-touch backup functions. The new product uses USB 2.0 to power the device, and supports Windows XP/2000/ME/98SE.