I'm mostly sure that as of 3.5 its no longer an issue, but dont take my word for it. I do know I installed 3.9 from my emergency disk and can access all of my 60GB drive with no problems. I do have it split into 2 drive, but I was sure I could make it one large drive if I wanted to.
As for large drive support in OS4 I would put my money on guessing its not an issue at all. With smaller drives no longer being sold new it would be stupid to keep the old legacy drive limitations in the OS.
