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The manufacturer calling it a 120 GB drive isn't quite accurate. It actually only has 120,000,000,000 Bytes, which is about 112 GB. My 60 GB drive has 61,400,000,000 Bytes which is 57 GB. So seeing 111 GB would be about right. NTFS might give you a bit more space, and it's more stable than FAT, but unless you were planning to re-format anyway, it's probably not worth the trouble. Hope this helps.
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