Thanks for all the responses. The NTFS issue will be solved like this:
- convert all partitions to FAT32 so Linux+XP can read/write
- remake all Truecrypt volumes as LE 4Gb (FAT32 file size limit under XP)
- install Ubuntu (or some distro) on last partition
- FAT32 is not a security risk if all your files are on Truecrypt volumes
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