Does it depend on the media size which one to chose or on some other parameters? On Windows 7, FAT16 is the default. In pendrivelinux.com's Universal USB Installer, FAT32. Which one should I chose? How about NTFS for Windows use?
How about exFAT? It is the Microsoft designed filesystem for removable media. Is there a difference in USB sticks and SD cards in this regard?
Seeing developments in the other question, should I still use something like exFAT if I don't want Recycle bins created on every single machine I plug my USB thumb drive into?