The drive itself will do wear leveling but yes, the more space you leave the better, I'm not sure how SSD's deal with partitions as they have a rather "write anywhere" architecture while a hdd while with the OS split two 500gb partitions into distinct portions of a drive that won't write elsewhere.
The common setup is to make sure bios is set to AHCI for install then let win 7 do the formatting and let it use the entire drive. It will make a 100mb hidden partition at the start to align and to store some boot data, then put the rest of the drive in a single partition.
I'd do your best to leave as much of the drive free as possible, as wear leveling is essentially an exponential thing, the less space the more wear and tear the flash will get, because a lot of data rarely changes like most of your windows files they'll essentially be writen once on your flash, not changed often/if at all and have 1-2 writes over their lifespan(for that install) while the rest of the drive will spread out writes as best as possible.
Think of it this way, if you have a 60gb drive, and 5gb spare, and you write 5gb a day to it wear leveling(if perfect) would mean each flash gets one write a day, in reality it would be several writes a day. If you have 30gb's free, that 5gb's a day might means flash writes are down to 1-2 every few days with great wear leveling.
But realistically see some of Anandtechs reviews on ssd's as they often try to explain the math, ssd's will likely last 5-6 years minimum, maybe 10-15 years with low usage, its not a huge issue at all.
First ssd's with some issues with stuttering I went through the effort of moving temp files and IE/firefox writes/cache to a normal hdd, tried a ramdrive, it helped with a less good drive a couple years ago, now, its just not worth it. I do install anything non critical to a hdd, I also download stuff like tv/music/random stuff to an hdd AND set the cache for such downloading programs to an hdd rather than the ssd to minimise the silly amount of downloading I do hurting the drive, but thats also a size issue. I install games that I either won't play frequently to hdd, and things like MMO's with frequent loading, or my favourite play all the time games to the SSD.
