I was using FAT32 for Windows partition (to be able to write things into it from Linux installation), but now I converted it to NTFS cause Linux is gone out of my personal (not professional) life for good. It is way faster, secure then FAT32 was.
fat 16 and fat 32 are the old file systems used for win 95 up to Win Me. Not very secure or reliable. When they moved to ntfs it made the o/s more stable,more secure and faster. Winfs file system is the new one out for Longhorn or was for longhorn,I do believe they have pulled it out of Longhorn and are putting it in the next release of Xp. I could be mistaken but I think thats about it