I have not tried LVM on m68k, but why should it not work? I am running low on harddisks, especially IDE disks are not easy/cheap to get nowadays, unless you buy used... that will become a problem for m68k in the long run.
SATA-IDE adapters are about $10 USD. I've used 2 TB drives on my A4000's IDE without a problem, but they're obviously faster on a SCSI bus (with SATA-IDE and IDE-SCSI).
the "viewvc" URL does not work. Just got a HD > 4G, which I can't partition with HDToolBox :( So I need amiga-fdisk.
HDToolBox works fine with drives larger than 4 gigaytes. You just need to figure out all the numbers yourself (tracks, heads, sectors per track) and partition based on your own numbers, not based on the GUI slider.
John