Hey Glenn,
It is most likely an SSD. At today’s prices I would be tempted to upgrade it to a 256GB model, which – unless you are a mobile DJ, should be ample room for your collection. Get the Samsung 840 Pro (not the EVO!).
I AM a mobile DJ and have a bit more music, so I have my music on an external drive. Currently a hard disk, but soon an external SSD (way less prone to damage from bumps and falls). Unfortunately 500GB+ SSDs are still a tad too expensive for my taste.
There are really only two brands of HD manufacturers left (Western Digital and Seagate and Hitachi for laptop drives), so almost all external HDs will have one of the two on board. There isn’t really a lot to choose from and they all perform as they should. Faster spinning can be a good thing, but also mean more wear and higher operating temperatures (7200 vs 5400 rpm). Bigger cache can be helpful although not reall for DJ-ing imho.
The one thing I’d consider, especially if playing longer sets, is to get the WD RED series, they are made for use in NAS (Network-drives) which tend to be on 24/7 and have better heat handling.
Other than that, it really doesn’t make much difference. 2.5″ drives are more expensive per GB (but then again you don’t really need 2 TB right?) than there 3’5″ counterparts, but often don’t need external power (although I wouldn’t risk this on Macbooks as the USB port power is notoriously unreliable in my opinion). Also they are a lot smaller which makes for easier storage and travel and less space needed to stick it in the booth somewhere.
Hope that helps some.