Shared folder (or files) question

I did ask this already in another thread and got a response but I still don't really understand if what I want to be able to do is possible. I am going to be installing Windows XP via Boot Camp. I want to be able to rip all my CDs and have my MP3 files available to play while I'm running Mac OS X, but I also would like the same files available to play while I'm running Windows XP. Is there any way to do this?

Thanks!

Your BootCamp partition must be FAT32 (which limits your partition size to 32gb)

Is that the type of installation or formatting or something? And how would I go about setting up a location for shared files?

When you get to Step 3 in the bootcamp installation guide you have to select the format of the Windows partition. You need to select FAT32 otherwise your Mac can't read the partition.

The entire hard drive will be available in OS X so there is no need to set up a location for shared files

I see. Didn't realise it was that simple! Does that mean that I would be able to link that folder to iTunes in OS X and also to say Windows Media Player in XP?

Thanks for your help!

I haven't used WMP in years so I don't know how it handles tagging and storage of files but I can tell you that iTunes definitely won't update the library based on files added in WMP. You could use iTunes on both platforms and it would link fine