FAT32 can go into the Tb, but the cluster size gets bigger. Something like 16Tb is the limit, and 2Gb files size.
exFAT allows more disk and file size that you'll ever own in the next 10 years (or more), works in both windows (newer windows) and mac (newer OS X).
No problem if copying NTFS drive data on to a mac.
Copy back to a windows based system can be a problem as the mac allows longer path + filename lengths. Windows can read them, just not write them for some odd reason.
exFAT allows more disk and file size that you'll ever own in the next 10 years (or more), works in both windows (newer windows) and mac (newer OS X).
No problem if copying NTFS drive data on to a mac.
Copy back to a windows based system can be a problem as the mac allows longer path + filename lengths. Windows can read them, just not write them for some odd reason.