NTFS (et al.) should be avoided for "portable" filesystems
(despite the fact that only FAT32 is really portable, nowadays).
While NTFS will support case sensitive file names, most of
the Windows tools won't. So, Makefile and makefile will
compete for whichever name happens to be created first, on
the medium. Ditto README, readme, ReadMe, etc.
Use NTFS if you created the file hierarchy under windows
and expect it to remain there. Think twice before trying
to migrate a hierarchy created elsewhere *to* NTFS!
Likewise, maximum path lengths are an issue with MS tools.
There are often workarounds but expecting a tool (e.g.,
a decompressor) to be able to build an arbitrary file hierarchy
at an arbitrary point *in* the file hierarchy is a recipe for
disappointment. I.e., create an archive with files from:
/some/really/deep/level/of/the/file/system/hierarchy/.../folder
and try to unpack it into:
/some/other/really/deep/level/of/the/file/system/hierarchy/.../folder
[This problem exists regardless as every file system walker has
limits on MAXPATHLEN]
As far as big thumbdrives are concerned? Wait until one quits because
it's not been sufficiently overprovisioned to handle the write-erase
cycles!
If you can tolerate the slower speeds of thumb drives, then a commercial
multiterabyte disk is a no-brainer (~8TB for $120 with sustained write
rates of 100+MB/s)