Fedora 7 install: DISK failure consideration

[Sebastian Gurovich]

I have a hard disk with a WinXP NTFS physical partition and wish to add
Fedora 7 to have a dual boot system
but am not sure what to do for partitioning.
Thinking of 6 partitions in total.

(1) NTFS for windows
(2) "/boot" for boot loader
(3) "/home"
(4) "/"
(5) swap
(6) /tmp

One option, AFAIK is to create at least 2 EXT3 partitions. One for the /boot
and the other for the rest. Then
using LVM I could create logical partitions (volumes) for "/home",  "/" and
"/tmp", BUT, I know the disk will have problems in the future due to age,
wear and accidental bumps etc. I am going to take backups but the question
is: am I better off first to create many different physical partitions for
the F7 installation or should I just create two physical partitions and use
LVM to create many logical volumes out of the one physical volume?

That is,

Should I create 2 physical partitions with Partition Magic, for (1) and for
(2),(3),(4),(5) and then use LVM for (2),(3),(4),(5)

(1) \boot
(2) logVol00 ("/home")
(3) logVol01 ("/")
(4) logVol02 (swap)
(5) logVol03 ("/tmp")

OR

Should I FIRST create five PHYSICAL partitions with Partition Magic (both
primary and extended) and then use LVM to end up with :

(1) \boot
(2) logVol00 (/home)
(3) logVol01 (/)
(4) logVol02 (swap)
(5) logVol03 (/tmp)

If i go with the 2nd option and leave extra free space in logVol00,logVol01
and logVol03  can I later take space from "/home ",  /"tmp" or swap and
redistribute it to "/" and vice-versa using LVM?

Maybe I can´t create 5 physical partitions and Partition Magics extended
partition scheme is like LVM´s logical partition scheme and so the end
result is similar or am I missing something here?
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