First, Ubuntu installs quite easily, (dozen or so clicks), via GUI
However, I think you missed the point of the "try it before you buy it" utility of a "live" CD, or the "WUBI" installer.
If you install Linux completely, then it's more or less forever. It can be difficult to remove it, should you desire to do so.
Second, Linux will create partitions if you ask it to do so. Unlike Windows, it will do so on a disc with information on it without destroying that info, but within certain limitations.
If I were to install Linux to the HDD, (without WUBI), I would want to do so on a HDD that was much more empty than full. I would also run the defragger at least 1 or 2 times, so that there are contiguous data blocks for the necessary partitions to be created.
Other than that, I would use the latest version available. as device detection, and device drivers get better with every release.