I have a 32GB Sandisk Cruzer Blade usb flash drive.
I use it in many devices such as my car audio system, where they can only read FAT32. I also use it with my Windows, where NTFS is needed since I usually need to transport big files.
I achieved this by installing a custom driver as of this tutorial, which allows me to have the flash drive as a local disk, therefore I could create more partitions and access them, without having to buy more usb flash drives.
The problem is, I got Windows 7 64 bits and the trick doesn't work in x64 versions of Windows, and in my exhaustive attempts (i.e. Qemu with DSL, custom x64 driver) I achieved nothing yet. I need a portable solution like this one, because it allowed me to access the partitions in any new PC I'd use.