Think of NTFS as being solely for security, if you need to protect your computer from prying eyes at home/office then using NTFS on your partitions will enable a higher degree of secutity to be achieved.
I have it on only the system partition, the remaining partitions are still with FAT32 and will remain so as I do not need more security.
The only other reason for FAT32 is when one is multi-booting because only NT operating systems can read NTFS, my memory is not so good as it was but I believe that NT4 is the earliest system that can read the current NTFS?
I find formating as NTFS makes my systems more stable, but as already mentioned you would not be able to have any fat32 based operating system on the same partition. It maybe unlikely that you would want this in which case I would recommend the NTFS route.