Is it possible to use this chip like a flash drive for an arduino. So i can write data to it, pull it out, and then a week later, read the data i put on there, from the week before. http://www.sparkfun.com/commerce/product_info.php?products_id=525
Yes that is an easy application for that chip. You will have to write your own software programs to write and read from the chip in the format you decide on. That chip will give you 32K bytes of storage.
Won't even have to write any functions! http://www.arduino.cc/playground/Code/I2CEEPROM I recently used a 24LC256 with success using the read/write byte functions from there.
If you're going to be changing it every week, get a small piece of Veroboard, or something like this, and make a "plug-in cartridge" that connects via header pins and sockets. If you plug and unplug the chip a lot, sooner or later you'll sneeze, or be distracted by the cat, or somesuch, and mangle some pins.