Things are in several layers :
* Up to 1TB is possible, more requires a patche that RLoew made. Apparently Windows uses signed data type when it shouldn't and past 1TB things go to shit due to that, making the maximum of 2TB unreachable.
* LBA48 is another problem for PATA/SATA drives. You must have a BIOS that supports it or stuff beyond 128GB wraps around to beginning of the drive and you lose file system etc. and similarly Windows must have its ESDI_506.PDR file patched to support LBA48 aswell or same thing happens from within Windows. I cannot speak for Win95 but 98SE and ME have patches available to counter these issues. For SCSI and USB drives this is not a problem and only the 1TB bug is in the way.
* Once access issues are sorted out, the partitioning becomes the next issue. FDISK can do partitions the size needed, but it has graphical bugs that prevent entry and display of the large numbers of big drives (there are fixed versions floating around) . You sort of have to use FDISK for bootable drives as it seems to be the only tool I am aware of that aligns things right so that the boot sector code will actually be able to find the DOS core files and run them. Whenever I use any 3rd party tool it causes problems around this, the drives will not be bootable , and sometimes not even after FDISK /MBR option. I'd love to hear about some tools that will work, because FDISK with its integrity check takes forever to deal with the large drives (in fact I am actually sitting and waiting for 1TB RAID array to partition). For drives you aren't gonna boot off, 3rd party tools will be fine and shouldn't be problematic though I have seen a care where SCANDISK will complain about inaccessible last sector with a Paragon partitioning tool.