Xbox 360 + NTFS external hard drive? Is there a way?

The Xbox 360 is only compatible with external hard drives that are formatted with FAT32 or HFS+ file systems. Does anyone know a way around this? I would ideally like to be able to use an NTFS hard drive as HFS+ is not compatible with Windows (without extra software) and FAT32 is just a piece of **** :O)

Thanks in advance.
Thanks, Lemur, that was really helpful.

Only way I know of is to use an External Hard Drive and reformat it to FAT32.

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