Which Drive Should I Put the Programs On?

[filmjax]

I've started doing a lot of my video editing and encoding at work and bought an external HD to house my video. This may sound like a silly question, but which drive should I install the programs I use (VirtualDub, TMPGEnc, etc.) on? Is there any notable difference in speed or performance if I put them on either the laptop's HD or the external one?

[Krispy Kritter]

I would expect access speed to the internal drive is faster. And you don't want the applications on the same drive as the data/video you are capturing.