As others have said, USB2 is definitely fast enough.
You didn't mention, but do you get lag in your playback on both the computer AND on the TV? Or does the TV play it back smoothly?
If the TV does play back smoothly, the issue is with your computer.
If both your TV and computer play back with the lag/chop, it sounds to me like your disk IO is the bottlenck. For instance, if your disk is getting full or if other processes are accessing the disk at the same time, it could be preventing the head from accessing the data as quickly as you need. If you have a disk that you can play smoothly from, I'd run some disk speed tests on it and and compare those results with those from the drive(s) you're having issues with.
Depending on the actual drive inside the enclosure, you could also be running into some sort of timeout issue. I know some WD disks have some "intelligent" aspects which make them more energy efficient. While this can be good for saving power, it can cause issues in performance-intensive situations.
It sounds like you're on windows, in which case I don't know how to test disk IO performance or identify programs that are waiting for disk access, but if you're on linux by some chance (or a Mac) I can help you out there. Let me know if that would be useful and I can send some tests you can run.