NTFS vs FAT32 ...?

They are both file systems and they are both used by Microsoft Windows operating systems. The primary user noticable differences being that NTFS supports larger file sizes (over 2gb) and file security allowing permissions to be set as well as volume encryption. FAT32 supports none of these extra features but is almost universally compatible with every other platform/OS out there, including OSX. NTFS support is read-only in OSX however you can get third-party tools that support full NTFS read/write under Tiger and Leopard.

Hope thats of some help