I started playing around with Disk Management and I have been pleased with what I can do to the disks without the purchase of third party disk management tools. Let me begin by showing you how to shrink a partition in Windows Vista.
From the Start menu, type Computer Management in the Instant Search toolbar to access Disk Management.
Right-click on the disk in question and choose Shrink Volume.
Now you can Shrink your volume to the applicable size.
You are now ready to create and format your new volume.
Once the volume is created, you have the ability to delete the volume and extend it back to the original state if necessary.
As you can see, you have a good out of box experience with Disk Management in Windows Vista.