How should I Set Up My New External G-Raid?

Just received my new GR42000 2TB G-Raid Drive, but before even turning on the unit I began to read the manual PDF that came with the drive.
I want to use this unit with my new iMac and also with my HP PC which has video files that I'd like to access from time to time. I was instructed to reformat the drive for "Cross Platform Support"
Questions:
1) is this needful for extracting my video files.
2) Will using the Fat32 MSDOS format restrict my editing abilities within Final Cut Express 4HD.
3) Does the file extensions from the PC have to be converted, or is this what is done when they are transfered from internal to external.
I will be using this G-Raid for storing Video and Music Files exclusively and working 95% of the time on the iMac.
I also read in the manual that a software exists "MacDrive" for install and a cost, which I could not find, to help converge the two systems to work between each other.
I want to start off correctly and avoid transfering files and then later have to reformat and loose all the time spent doing so.
I'd appreciate advice from others who have already worked through the process.
I hope I've provided enough information, if not I'll await instructions.
Thanks, Dan

Hi Dan
I think that the problem is that users in this section of the forum (including myself), do not use Final Cut Express. Or again including myself, dabble all that much with windoz.
While MS-DOS FAT-32 is the ideal Format for sharing files Cross Platform, it has a 4GB single file size limit and may not be the best for storing and working on Final Cut Express files.
Examples:
For cross platform sharing of music, photo's. movie's and files under 4GB, I use an External HD the is set up Master Boot Record/MS-DOS FAT-32.
For backups, Time Machine and Bootable Cloning I use a different External HD that is set up GUID Partition Table/Mac OS Extended (Journaled).
So sorry, but I can not say exactly which would be the best solution for your multi facetted case. I suspect that GUID/Mac OS Extended is better for rendering and editing, but then you will need something on the windows side for reading and writing to that.
Finally I think that you should pop over to the Final Cut Pro section of this forum and ask the Final Cut Pro guru's the tougher questions. > http://discussions.apple.com/forum.jspa?forumID=939
Dennis

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