naw G carnage has the right idea but what you should do is download the hard-drives system tools from the manufacturers website or
ultimate boot disk or hirens 7.1, disks with alot of tools on for testing.
basically you can go two routes with this, use the manufacturers tools to wipe the drive and they pretty much all have an option to set the drive up for a particular operating system, if you choose to set it up for Windows XP SP1+ higher then you can create that 500gb main partition.
the second route, install a service pack now and head to control panel, admin tools, computer management and then disk management and create a secondary partition with the remaining space.
do this my son and you shall not go wrong /sheep out