Trouble partitioning my new My Book Live 3tb [OS X Lion]

Ok, so here’s the vitals just to get them out of the way…

• Device: Western Digital My Book Live 3tb NAS [Deleted]

• Firmware: MyBookLive 02.02.02-020 : Core F/W

• System: Mac OS X Lion v.10.7.1

My end goal with this drive is to partition it so that 1.5t is usable for TM backups and the other 1.5 is usable for media storage.

It seems all the posts I’ve read have been people asking questions about which format to use, I just want to be able to get to that point… The closest I’ve gotten is  this thread, mentioning that in order to format/partition you need to do a factory restore on the device. Well I tried that, got the warning that said it could take “hours”, and realized that the drive really wasn’t kidding. I started the restore at 10am yesterday morning and it wasn’t  even at 75% at midnight. I left it to do its thing overnight and when I came back to it this morning, it had a “timeout” error, even though I had disabled sleep/screen saver on y Mac so something like that wouldn’t happen.

Please help! 

You can’t.