Dual OSs Win XP and Win 7

I have 320 GB hard disk. I am planning to install dual OSs Win XP and Win 7. Is it possible? How? What are the file systems(common) supported by both?
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Installation of dual systems (XP and W7) is possible (and in many cases preferable).
First decide the partitions part:
Split the disk into 2 partitions using some 3rd party tool (Partition magic).
This way you will not loose any data.
Then :
Just run the setup of W7 from your DVD and follow the instructions.
W7 will modify the bootloader so you will have the dual option available
when you start your computer.
It is a simple an intuitive process.
Partitions part will take you more time and expertise....
Another option might be to just install Win7 and use it's "Windows Virtual PC" and "Windows XP Mode" feature to create a virtual version of Windows XP
you will have to partition your hard disk. Then you install the operating systems normally but when it asks you which partition to put it on put xp on one and windows 7 on another.
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