How to make an external drive useable on OSX and WinXP?

Hi all,
I am needing to buy an external enclosure to use as file storage for some standard-definition (DV) video editing work. The drive will be used by both a Mac and a PC in two different locations, but I would like the drive accessible equally under both operating systems.

Obviously when doing video work, I would like to avoid FAT32 if at all possible due to its 4GB file size limit, when the files I will be working with will most often be larger than 4GB. Is there a file-system or method I can format the drive so that I can read AND write to it under both OSX and WindowsXP?

I am aware of programs like MacDrive that allows a PC to read/write(?) files to a Mac formatted disc, but would like to avoid an additional program if at all possible.

Thanks!

FAT32 is the lowest common denominator for RW support. NTFS is still ROnly in OS X, and this after write capability was rumored for 10.3.9. Until MS publishes either the code or documentation detailing all the little quibbles in NTFS, and I don't mean the B-tree, but things like ACLs, compression, encryption, etc., there just isn't going to be a reliable way to write to NTFS from a non-Windows machine. Your best bets are macdrive & HFS+, FAT32, or networked backups (perhaps even a small, consumer NAS box).