Your post was auto-moderated due to the external link that I removed before accepting your post.
We have our own USB compatbility thread, also containing old hard drives that may be hard to find since the list was started a while ago, but new hard drives are still added when people give us information.
Finding a hard drive for under $60 may be difficult, as the hard drives of that low capacity have not been made in years. Use the post and search around to see if you can find anything.
It's more than what you want to spend, but I bought this to replace my 250gig hard drive that filled up with a 1.5TB drive and works well with the Wii Amazon.com: Seagate FreeAgent GoFlex Desk 1.5 TB USB 2.0 External Hard Drive STAC1500100: Electronics
If you have to find a newer model, check the manufacturer's web site for configuration utilities so you can disable any sleep mode that may be enabled by default. In the hard drive that I bought for my Wii, sleep mode was disabled by default.