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!
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.