CBC mode is not considered best practice any more
I suppose it could have been worse, as they could have used ECB, as a surprising number of "security" products still do.
The keypad is OS-independent, which is nice for Linux users, or Mac users tired of waiting for IronKey to update their unlocker app for the newest version of OS X.
It's nice they used a solid aluminium chassis for the drive. Boo for USB2. One of the great things about the IronKey S200 is that it uses SLC memory, which made it a very speedy drive (unlike the horrendously slow MLC IronKey D200). I wonder where the Toshiba fits, performance-wise.