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Well the obvious advantage is file size. But NTFS is more secure, has better performance on larger volumes and other advantages.
There's a table here: http://www.ntfs.com/ntfs_vs_fat.htm
Basically nothing should be using FAT32 anymore except in certain cases, most notably small USB flash drives.
I noticed this had been sitting here for a while. It's a public holiday in N. America so have no idea if and when a McAfee person might spot this.