Yep, just file > save as > convert WAV to MP3 with some program.

Can an external hard drive be partitioned? And how would I go about doing that? If so, could it be used on more than one computer, where one is Windows 7 and the others are XP?

Yes.
Start > Right click My Computer > Manage > Disk Management > Select external drive > Right click > Shrink volume > Enter, in MegaBytes, the amount of space you want to shrink the existing volume by (say if you want to split the drive equally, just enter half the total volume) then Shrink.

Now you'll have another partition, or unallocated space. If it's unallocated, you just need to format it with NTFS. (Right click the new partition and choose Format)

And yes, you can use it on both XP and 7



(I'm going off of memory here, but that should be about right. If you have any issues, let me know)

Thank you both. I'll let you know how it goes.

I just tried it the way that website directed and it worked for me an a 120GB external drive.

I'm looking to set up the cheapest possible VOIP configuration possible. Is anyone familiar with this?

Are you looking to do it on your PC, Mac, or on a specific mobile device?

Windows PC, hopefully I have a 56k modem somewhere.

EDIT: I want it to behave just like a land line. I don't want to bother with anything on the computer to make or receive calls.

Worked fine, thanks again!