I read through the guide and couldn't figure it out. I just didn't want to screw anything up since the only thing I've ever formatted before was the 2GB sandisk I used to softmod the wii. I felt like purchasing a new drive was best for it. :P
Funny story. I swear the Emulated Super Mario World runs better than my purchased Virtual Console version.
And to be honest, I was thinking that using my school work/etc as a drive for the Wii probably wouldnt of been the smartest thing.