Of course, with video and other files that we encounter now, Fat32 is no longer acceptable I have one new HD that I formatted with exFat and it works fine with my Macs but I haven't tried it on Windows machines. I also have Fat32 drives for when I must share files with Windows machines, mine and others.
Like many of us, I have external drives formatted in MacOS for my own use, Time Machine, etc. The reason that I'm asking is that I remember people recommending not using exFat (formatted by a Mac) in the past, but that was at least 2 or 3 years ago, probably longer. Any reason not to format an external drive with exFat? I am referring to using the disk utility in Mac OS to do the formatting.