There are about as many different ways of partitioning as there are Linux users. My 15GB HD looks something like
50 MB /boot
5 GB win98
4.5 GB /
500 MB swap
4.5 GB /home
with /, swap, and /home in an extended partion, and /boot and windoze in primary partitions. I like to keep /home and / separate so that if some program goes wild on home it can't overwrite my system files. The separate /boot partition is a holdover from a year-long battle to get Linux to multiboot with Win98 without using a boot floppy. Modern BIOS (set to use LBA) shouldn't need it. Rule of thumb for swap = 2 x your memory, unless you have LOTS of memory (I have 512MB), in which case you won't use your swap so much anyway.
More info in Partitoning HOWTO.