I have installed Ubuntu 10.04.3 and did LVM2 from the install -- basically let it make it all.

Here my output of df -h:

root@server1:~# df -h
Filesystem Size Used Avail Use% Mounted on
396G 1.5G 375G 1% /
none 1000M 248K 1000M 1% /dev
none 1005M 0 1005M 0% /dev/shm
none 1005M 284K 1005M 1% /var/run
none 1005M 0 1005M 0% /var/lock
none 1005M 0 1005M 0% /lib/init/rw
none 396G 1.5G 375G 1% /var/lib/ureadahead/debugfs
/dev/sda1 228M 33M 184M 15% /boot

And fdisk -l:

root@server1:~# fdisk -l

Disk /dev/sda: 438.0 GB, 437998583808 bytes
255 heads, 63 sectors/track, 53250 cylinders
Units = cylinders of 16065 * 512 = 8225280 bytes
Sector size (logical/physical): 512 bytes / 512 bytes
I/O size (minimum/optimal): 512 bytes / 512 bytes
Disk identifier: 0x00097deb

Device Boot Start End Blocks Id System
/dev/sda1 * 1 32 248832 83 Linux
Partition 1 does not end on cylinder boundary.
/dev/sda2 32 53251 427481089 5 Extended
/dev/sda5 32 53251 427481088 8e Linux LVM

Basically, I've not messed with LVM much and thought I'd give it a try. What I want is to mount /home with most of the half terabyte of space, giving the rest to / about 15gb I figure will do for /

I'm reading lvm guides. So, first step is to reduce / and then make a new partition I assume to mount /home on.

How do I go about reducing the size of /?

lvreduce will kill the data already there.