Hi
This really becomes down to an old saying: "You can have a good system or a cheap system". Not both at the same time.
As eww already stated you probably do not need 1,5GB for OS X or even WIN7 system. And the speed of an operating system comes down not when the partition has nearly filled, but it is rather related to the physical drive utilization. But OS X and WIN7 are both quite good handeling the hardware even when it's not that top-noch.
If you are into storage, buy a separate external storage device (for about $250 per 2TB) and attach it via FireWire - http://store.westerndigital.com/store/wdus/en_US/DisplayProductDetailsPage/produ ctID.106590800
And have a 1TB harddrive for operating systems giving both the MAC and WIN about 500GB of diskspace. That would set you back for about $100 or less.
So for a total of 3TB of storage you would then have been spent around $350 and you have a system that can deliver both speed and reliability.
Keep in mind that when you have the timemachine backup on the same physical drive as the stuff you are backing up, it does not only make the backup unnessecary but it will also make the usage of the computer very slow during the backup since the backup proccess reads and writes to the same physical drive.
I understand your technical curiosity and its not in anyway wrong to poke around (as I have done so as-well) but just understand that when you create this hazard platform combining original and "backup" data on the same drive you should really consider what information you store on that system. Just something to think about.