If you're installing Linux, the filesystem choices are either ext2, ext3, or ReiserFS. FAT32 is WINDOWS ONLY.
The only partitions you *should* need to create are / and /swap. The other directories are normally created by the install, unless you're installing one of the BSD's or some other flavor of UNIX, which mounts them on slices (partitions in Linux.)
If you are looking to access files on your Linux partition while using Windows, you'll need a third-party utility to do this. You can, however, read and write files to your Windows partitions while in Linux if your Windows filesystem is FAT32. If you use NTFS, then you'll have READ-ONLY access to your Windows files (well, OK, you technically _can_ write to NTFS from Linux, but it's not advised, as you can hose your Windows install.)
As far as the layout you want for your Linux partitions, your /swap partition should be roughly 1 1/2 times the amount of your physical RAM. That being said, if you're installing RedHat, I believe it will automatically suggest the sizes for the needed partitions. I could be wrong on this, since I've never installed RedHat. I know that Slackware, Debian, and FreeBSD offer suggestions on the partition sizes.
In summation, the only partitions you should have to create would be / and /swap, and it is recommended that you do this from within the RedHat installation, as opposed to using Partition Magic to do this. If you do it yourself, create the /swap partition FIRST, and make sure to create it at the END of the logical drive.
Good Luck!
Oh, here's a link to an online version of Linux Unleashed! that might offer some help:
http://prognosis.lib.ece.ntua.gr/dim...3/055-057.html