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I did get dual booting working with USB 3 external hard drive. It's a lot faster than a thumbdrive. I had to reformat the drive with a newer mac than my mac mini, then it worked fine.
As I said, I am unlikely to change using the mac mini for de-drm. It simply takes too long to dual boot, plus I can do stuff on my iMac while the mac mini is doing it's thing. de-drm of movies seems to be limited in speed by iTune rather than the speed of the machine.
de-drm of iBooks is fairly quick. Still, it's a good back up in case something happens to my mac mini. It is a pretty old device.
Eventually, someone will figure out how to do de-drm of iTunes and iBooks with the current Mac OS.
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