I use minitool partition wizard home edition, its a free program that works awesome with Windows 7(one of the few)
I just installed the OS, then ran MTPW home edition, created a few partitions on my 2 drives, it toook a while to get the sizes down that I wanted each partition, then I got it to do its thing, came back a little while later, all done.
The nice thing about MTPW home, is you can also move the partitions to where you want them on the driver, as an example, you always want your paging file on the "leading edge of the disk" for performance reasons, by creating a small partition for the paging file you make sure nothing else will end up on it, next partition would be the OS and so forth.
This way here you are making sure only things that should be on each partition are there, you keep performance higher, and most importantly, when it come to defragging and such, it is much faster as well.
If you have multiple hard drives, it is a good idea to have a paging file per driver, initial size 1.5x the amount of memory you have installed maximum size 3x the amount of memory you have installed, for me 8gb memory, I have the paging file size set for 11500 mb and max size 17500 with the actual partition size being a 20gb parition, and I have never had problems of it running out of virtual memory
Anways, the program for the partitions is here
Free Download Magic Partition Manager Software - Partition Wizard Online this is just link to the location, not a direct download link