A:AnswerHow small is small? The first full backup of the system can take a couple of hours. Incremental file backups are instantaneous. You can setup and schedule the types of backups you need, so size is up to you.
A:AnswerYou should not need to Re-Format the drive for it to work on a Windows system however, if you do, You should choose 'ExFat' if your going to re-format the drive. This is the same as Fat32 but allows MUCH longer recording times without breaking the file up into smaller clips like Fat32 will do.
A:AnswerThis just means you need to go to your 'Applications' folder and open 'Disk Utility' and choose your new hard drive from the list on the left. Click 'Erase' and choose one of the Mac Formats ( Mac Os Extended Journaled ex. ) This will prepare your new drive for Time Machine Backups
A:AnswerYes, you can but it need to be formatted in FAT32 (But file size has to be less than 4 GB) or format in exFAT (no file size limitations) to be able to read and write from MAC or PC.
NTFS is read only on Macs