Windows 2000 and later support FAT, FAT32, and NTFS file systems.
(The next version of Windows, code-named Longhorn, will support (?) a new file system known as WinFS).
The table below lists the maximum volume sizes and maximum file sizes for FAT, FAT32, and NTFS.

	FAT	FAT32	NTFS
Operating systems	All versions of Windows and DOS	Windows .NET Server 2003, Windows XP, Windows 2000, Windows 98, Windows 95 OEM Service Release (OSR) 2	Windows .NET Server 2003, Windows XP, and Windows 2000 support NTFS 4 and 5 (previous version of Windows NT support NTFS 4 only)
Maximum volume size	4GB	2TB (although windows XP lets you format only up to 32GB but can read larger volumes)	You can use 64KB clusters to achieve a 256TB volume (any volumes larger than 2TB must be dynamic, not basic)
Minimum volume size	Floppy disk	512MB	10MB (although some tools let you format a floppy drive as NTFS, see Sysinternals.com)
Maximum file size	4GB	4GB	Size of volume
Maximum files per volume	512 files or folders per folder *	65,534 files or folders per folder *	4,294,967,295

* If you use long filenames, you will reduce the number of files per folder.