Best way to format external HD for Mac, PC, and PS3 use?

[MUCKYFINGERS]

I just got a 500 GB Lacie rugged external HD.

I plan to use it mainly on my Mac but I'd also like to be able to use it on my XP netbook and Win7 machine.

Is it better to format it as HFS in OS X and use Mac Drive on my windows machines, or is it better to format it as FAT32 so I can use it interchangebly on both machines?

Thanks for your opinions.

 

[Bennieboy©]

format for windows, as a ps3 system wont recognise the mac file system

and next time, mroogle