Before you start in with Linux, I would suggest that you get to know what you are getting into first.
UNIX / Linux Tutorial for Beginners
Linux users will tell you it's easier than windows, but I have been using Windows for about 12 years now, and just recently got into the world of Linux, and it's pretty hard for me to comprehend.
But don't let that deter you from trying it out!
Yes, Linux will see your NTFS drive, but if you want to make it possible to allow each OS to share files, you should make a third partiton in FAT that's about 1 GB or so since Linux can't write to NTFS...same as with the Mac OS 10.4.
Notice: I use Ubuntu for my Linux needs, so that's what this is all based on.
When you install from Windows, it will guide you through everything. Ubuntu uses a file system called EXT2 rather than NTFS, FAT32 or HFS.
Have fun! Their are plenty of tutorials out there in Google that can help you through this.