External HD question

[Kenoi]

so today I bought this 1TB External Hard Drive and I got some quick questions,

its format is NTFS, but can I format it to Fat32? would Fat32 be faster? pros/cons of both? I've researched everywhere, but can't seem to grasp a clear answer. Please no flaming, hating, etc. I'm just asking a couple questions. Thanks for your help in advance, - kenoi :D

[LiNuX]

NTFS is newer. I've never really looked up specific advantages and disadvantages over Fat32 but what I do understand is that NTFS is used in drives with more space and it is generally faster and safer than Fat32. NTFS also allows compression. You can convert from Fat32 to NTFS easily but the other way around would require reformatting.

I'm no expert on this though. The mac I have at work uses Fat32 I believe, and all my windows machines use NTFS.