The first step to storage bliss is conversion: Mac OS X can non-destructively convert an existing drive to CoreStorage! From there you’re free to resize it, create new volumes, and pretty much anything else you’re interested in doing to your drives!
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Fun Mac OS X Storage Tricks with CoreStorage
Mac OS X 10.7 “Lion” added a volume manager called CoreStorage, a development I was gleeful to report last year. But what can you do with CoreStorage? Here are some examples.