Partitoning WD external drive, one partition for Windows and one for MAC OSX

I have the same issue. I want to use one 2Tb My Passport drive to backup my MAC (10.8.2) and my wife’s Windows 7 laptop. The instructions for use of drive for both MAC and Windows in your 3865 link shows how to format whole drive to FAT32 - this I am lead to believe is not as reliable as newer file systems and I have found MAC Time Machine to be quite temperamental. Can I partition the drive - approx 1TB as OSX Extended journled and another partition approx 1TB as NTFS. Note on the unreliable NAS drive (from another HDD manf) that I am replacing it (MAC disk utilities, partition) appeared not to allow partitioning?

Would appreciate your guidance