dont bother
Yes it is easily possible, but there is really no point - you will gain nothing in speed, and nothing in terms of improved backup capability - I mean if you had data partitions of around 6Mb, then backup to DVD is easy, but 50Gb is too big.
A better procedure is to divide your drive as you suggest, but for a different purpose - to provide yourself with a backup partition. The using something like Acronis True Image you would take a complete drive image backup to it from time to time. One day you may be very glad of that!
However, even so, it is better to have two drives rather than two partitions, as loss of a single drive is curtains.