Hi -
How many users are you planning to support for this off-box Exchange server? Is this for Windows 2003 SP2, Exchange 2003? I would recommend 20Gig just for the OS partition. To be honest, this really is not the best practice configuration for an Exchange server. I included a link for your review -
http://searchexchange.techtarget.com/tip/0,289483,sid43_gci1195222,00.html. You cannot combine 2 physical disks from separate logical volumes together. Your C:D: is two physical volumes (1 logical volume). Same for the E set. I would consider purchasing additional disk drives to either create a Raid5 set OR Raid10 set for the Exchange information stores.
Ginger