dual boot setup

[seanarmenta]

i would like to re-arrange my system, and install x64 along with xp pro.

i currently have

1 80GB ide HD -- currently where xp pro and programs are installed
1 40GB sata -- for music and misc
1 80GB sata -- for working on photoshop files
1 250GB sata -- for storage/backup

ideally, i want to partition my 40GB sata into 3 partitions:

10GB -- xp pro
10GB -- x64
20GB -- programs

will this work?

also, when using two OS's -- will i have to install the programs twice for each OS, since each OS has its own Documents and Settings?

i have all the drivers for 64 bit that i will need for peripherals -- but will i need to find 64bit USB drivers or maybe not because the drivers are included in the motherboard already?

i have an intel D945GNTL board and a pentium D processor.

the reason for installing the x64 is really just for photoshop, as it runs nicely in 64bit environment.

any help greatly appreciated.