What operating system do you have? you should be able to do it w/o any external software i believe, follow this:
http://support.microsoft.com/kb/309000
As was said by prev poster, fat32 has big limitations. I'd be surprised if your capture card ( i assume that's what your pinnacle device is, analog to digital right?) can't work with ntfs, there might a setting for it missing somewhere, it's probably just the default as Macs can't write to ntfs so they save some $ on tech support that way.