Which USB Drive should I use for Linux Live USB?

I am going to set up Linux on a USB Flash Drive and want to either install to the drive or run a Live Distribution from it since I want to stay with the distro I have on my hard drive.
What size or type of drive should I use? I have access to a Corsair Voyager 16GB. Is 16GB enough and would the speed of it be enough?
I have seen other drives such as the OCZ Rally 2 which have faster write and read speeds.

If you want “Linux” it comes in many shapes and forms;

You have come to OpenSuse, surely not the slimmest and leanest of distros ?

I had a look recently at the Ubuntu variants, that can run the ASUS Eee; they are packaged to run on smaller computers;

each can be put on a 1G SD card; eg easy peasy; eeebuntu;

distros like Puppy linux, or DSL are said to be especially compact;

Mandriva, running the desktop XCFE, is said to be quick;

so with 16G, you will have plenty of room for big files!

I been playing with this last week or so:

openSUSE Lizards » Factory USB Images

on a 8GB one, more then enough for playing around and learning suse