MBR or GPT for 8TB? Clip storage and archiving config?

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Young grasshopper
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In the past week I've been able to start setting up my system. Today I installed a WD 8TB Purple hard drive into the computer. When I initialized the drive in Windows 10 Professional, it asked if I wanted to set the partition table to MBR or GPT. Am I correct in assuming GPT is the way to go since that's what was selected by default?

Second, I need some help configuring clip storage. As I would like to use the entirety of the 8TB hard drive, which is not the boot drive, for clip storage, how should I configure this? Do I just use the "New" folder for everything and set the size limit to, say, 7TB so as to not completely fill the drive? Or does Blue Iris automatically monitor storage such that a limit larger than the hard drive's size will not result in the drive actually completely filling up? Is there any reason not to just use the "New" folder and not bother using the "Stored" folder?'

Thanks for the help!
 
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