My Passport in FAT32... good or not?

Hello,

I’ve bought a “My Passport Essential” 1TB and I would like to format it in FAT32, to be able to plug my External HDD on Mac and Pc.
But I’m not sure if it’s a good idea or not… advantage vs disadvantage!

Have you already formated a “My Passport Essential 1TB” in FAT32?
Are you satisfied of your HDD running under FAT32?
Is there some inconveniences with FAT32?

Which application did you use to format in FAT32?
Is FAT32Formatter ok?

Thanks a lot,
Chris