Is this how this works?

Hey, I'm new to mac and am going to be installing my mac tomarow. I've been researching. Is this how it works in a nutshell?
1.Download bootcamp
2.Run Assistant
3.Run bootcamp & burn driver disc
4. Then partition (this is where it gets tricky)
I heard if I don't do like an 25 GB fat32 File system partition, OS X won't be able to write to the windows folders from within OS X. And it will be forced to format in NTFS.
So if I do 25 GB and format it with fat32 it shouldn't give me an problem? I'll have an nice XP dual boot machine?
5. Eject windows install disc and insert mac drivers disc
I guess OS X will remain default if you don't press Option on boot?

Is this how it works?
I'm working with the new imac 24".

http://images.apple.com/macosx/bootcamp/pdf/Boot_Camp_Beta_Setup_Guide_v1.4.pdf

http://www.apple.com/macosx/bootcamp/

The first link is probably the most helpful. You are supposed to download and print that guide out. It should answer ALL your questions.

Am I correct though?

Not sure where you got the 25GB thing from, but you can choose any size and it will work just fine. So if you want 10GB, then that's perfectly acceptable.

The only step you missed was right before step 5. Before you take out the disc, you gotta install Windows first ;P

you can have up to 32gb for FAT32 formating and if you want bigger it goes to NTFS. apart from that its very simple. When you download bootcamp (200 or 300 mb something like that) it has a very very detailed instruction detailed booklet with it. print it off and read it all. then start the install.

christm that's not entirely true. FAT32 is capable of larger partition sizes than 32GB. That's just an arbitrary number that Microsoft imposed to get people to switch to NTFS. The maximum partition limit for FAT32 is technically 2TB. So while Windows setup won't let you create a FAT32 partition larger than 32GB, it will most definitely allow you to install Windows on a partition that is larger than that.