Just a little geek talk
NTFS: stands for NT Files System which was created back in the NT 3.1 days. NTFS has features to improve reliability and stability...such as transaction logs to help recover from disk failures. However, NTFS files are not accessible from other operating systems such as DOS (Win 9x doesnt really like it either).
M$ upped NTFS to NTFS 5.1 for WinXP which gives even greater reliability and stability. Here is a good article weighing the benefits and pitfalls of NTFS.
h**p://www.digit-life.com/articles/ntfs/index3.html
FAT32: File Allocation Table 32-bit. It is an enhancement of the File Allocation Table file (FAT) created back in 1977. FAT32 was updated for 32-bit operating systems and has been available since Win95 OSR2.
Oh, and yes there was a FAT16 that was used for 16-bit OS's like Win3.x. It was also on the first version of Win95. Technically it is the fastest file system, but its a BIG waste on file size. The effect on raw disk performance is about 5%. However, the overall impact on application performance is typically less than 1%. BTW, FAT16 is not dead though...your floppy disc uses it.