data can not be read in a windows 9x machine[/b]
I am not so sure this would qualify as an advantage.
The article from MSKB pretty much says it all. I always use NTFS, but this can have a couple pitfalls too. Since it can't be accessed (easily) from outside Windows if you have corruption or can't boot this could be a problem getting your data off of the drive, inless you have a spare you can install your OS (NT based) onto. It can't be read by a 9x based OS, which makes dual booting an issue, not a problem really though. Just create a speperate FAT32 partition for sharing data.
If you are not worried about security of your files or don't need or want huge partitions (IIRC Windows XP is limited to creating 32GB FAT32 partitions, and WIndows 98 is limited to 64GB partitions), FAT32 is just fine.
\Dan