Thanks for the replies guys (and ladies if applicable)! I have no idea what it means to format it to HFS+ though??
Also, with time machine, is there a way to set it so it only uses a certain amount of hard drive space? Or can it only be set up to back up the ENTIRE computer? Honestly I don't need it to back up everything forever, but instead just for about a month and then delete. Are there settings that enable the user to do this?