You will still have the option at boot time no matter which drive/partition you decide to use...they do not have to be on the same HDD.
agree BUT...
depends on how it is installed....
if installed with the wxp disk connected then boot/bootmgr will be written to the wxp disk and you'll get a choice to boot either wxp or W7....
if installed with the wxp disk disconnected, you'll need to select the W7 disk through the BIOS....
if you install on a partition on the wxp disk you'll get a choice as boot/bootmgr will be installed...
so it makes a differences...IMO