i recommend grabbing a 2nd hard disc drive to have as the host.. that way, you can always look back on it in case something turns sour with the 1st hdd.. at least a small 2.1 gig hdd will do..
i was thinking of having the first hdd to have windows on a partition but said screw it; linux all the way.. so, currently i'm looking at how i want to setup my partitions..
the link to this is http://www.pathname.com/fhs/
.. this should give a default setup of how your partitions should be.. it also tells about how to mount partitions in /etc/fstab, why your root partition shouldn't be so large, and what not..
with all that hdd space, i'm pretty sure you can put use to it.. my 1st hdd is 80 gig so it's kind of tough to decide..