Wow you make me sound old man.Hahaha,let me guess,you have a Little Brother/Son who won't stop bugging you to finish there playhouse
I'd have to tri-boot. I do have space but the last time I installed Linux and wanted to remove it I ended up having to re-install everything else cause I couldn't recover the Windows install.Ubuntu 10.04 is a cluster%*+#. Go with Debian 5 for awesome stability.
Oh, and why not dual boot it? More efficient.