How to resize the C partition in Windows 7 Home Premium

I need to resize my partitions. In my dell studio 1555 320 GB sata HD windows 7 Home premium. I have 146 GB in drive c: and 142 GB of space free unalllocated others are in recovery and OEM.
I decided to allocate 50 GB for C: / but when I try to cut shows that the size of available shrink space is only 203 MB of 149934 MB. And the measurement volume Option is disabled. Is it possible for me to have 5-6 partitions each about 50 GB without reinstallation. If I can do this through 3rd party software, Pls suggest me the best free partition software.
Is it a good idea to have Xp in d: / and win 7 in C: /.

System details:
Studio Dell 1555, Win 7 Home Premium, 3 GB RAM, core 2 duo Pro'r, 320 GB HD

You can use GParted- http://gparted.sourceforge.net/

See http://en.wikipedia.org/wiki/Disk_partitioning and restrictions on the types of partitions on a single drive.

Tags: Windows

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