By far the best way to dual boot (or triple or quadruple boot) a computer is to follow this sequence:
(1) download and burn to CD a standalone version of gparted.
(2) Use that to partition your disk as desired, say 75 GB for Windows, 75 GB for Linux, 75 GB for another version of Linux, and 75 GB for pure data to be read/written by both Win 7 and Linux. Make the shared data partition NTFS, since now Linux can read and write NTFS partitions, unlike the bad old days when a Windows/Linux shared data partition had to be FAT32. A small boot partition is optional. If you intend to have more than 4 partitions, the 4th must be extended, and then cut the extended partition up into a few virtual partitions as you wish.
(3) Install windows first, then Ubuntu or another Linux. The reason is, the last OS installed will control the multi-booting, and you definitely, desperately need that to be GRUB (which is automatically installed when you install Ubuntu). Windows will automatically choose an NTFS partition in which to install, so I advise you make two NTFS partitions when you are partitioning, one for Win 7, one for data to be shared between Win 7 and Linux.
The only cost to you of doing it this way is you will have to reinstall Linux, but since that takes less than an hour, no problem. To ignore my advice and resize your current single large virtual partition (sda5), use the standalone gparted CD to delete partition sda5, then create the desired number of new virtual partitions, one for each OS plus a data partition.
The advantages of an NTFS data partition are (1) so Win 7 and Linux can both access it, and (2) so your various developmental projects (such as a huge photo collection, or a big software development project) don't get obliterated when you re-install an OS. Big projects should NOT be on a Windows C: drive, nor on a Linux / partition.