1. Install Windows first and setup your windows partitions as desired.
** If you want READ ONLY access from Linux then NTFS is fine, you can READ NTFS from Linux but NOT write!
2. Install Mandrake, it will setup either GRUB or LILO (your choice typically) both are bootloaders that will automatically detect Windows

** Mandrake does come with a partitioning utility, I believe it has an option to auto-allocate NON-partitioned space so just make sure to leave it some room