Windows 7: Risks with partitioning

Hello

I have 2x250GB harddrives with a raid0 configuration, partitioned to 45gb+419gb.
The 45GB install is a windows 7 install that I primarily use. The 419gb one is my storage partition that also houses a XP installation.

If I were to partition the Windows 7 partition to create a third partition (419+30+15) are there any risks that I'll damage any files? The 419gb partition contains vacation pictures and such irrecoverable data. I have it all backed up to an external harddrive but I don't exactly feel like reinstalling and setting up two OS's.

There are always risks when manipulating data on your hard drives. Heck you might have a power outage while saving a text file. Who knows when the HDD demon will strike.

That said, if your are certain that your backups are valid, then the risk is unimportant.
The point being that if the partition operation corrupts your drive, you will be able to use your backups to be up and running in no time.