Partition iMac and PC Win7

WD External Drives External Drives for Mac
1

My Book Studio 1TB - planning to buy

Can I partition this drive and use half each for iMac (HFS+) and PC Win7 (NTFS) ?

2

Yes.

3

Does this mean that I can save a Boot Camp partition as well ?

I am asking since I have been told that this is not possible on the Apple Time Capsule.

Thanks in advance for solid information on this question.