Your choice.... Seems like every action has a consequence...
Read back through the threads and you'll see talk about some dual boot installs. I guess I don't know what your level of computer expertise is. I have built dual boot single drives. Fun for the experimenter. Depends upon what you intend to use this machine for. If it is for a 24 / 7 server. I wouldn't bother with a dual boot machine. Thinking is, when would it ever see windows again? In that case I'd move my windows to another computer. If this machine is your 'hobby' , then you have to make a decision.
At least it appears you have the capacity to back up your windows files. That's a good thing! I do recommend that anyone that has intentions of working with Linux, take a trip to their bookstore or library, and locate a book that fits their level of expertise. It will at least give them an idea of what they are working with. They can see what is considered typical and most authors comment on things that gave them problems. My friend just did an install with Mandrake on a 40 g. He went 30 Windows XP and 10 Mandrake. He used the Linux bootloader in the MBR of this drive. On his hardware no problems. The last one I did on a 20, was 8 windows 12 linux. Personally for me if it doesn't work, I try something else. Sooner or later unless you're really blessed you're going to make a mistake and It may cost you some data. If you're a hobbyist, it's the price you pay for the hobby. I guess that's just my philosophy. Any thoughts?