EaseUS Todo Backup works well. It offers the process bar to estimate the time. The latest version accelerate backup and recover speed. The clone and system backup are my favorite features.
http://www.pcworld.com/article/2847308/when-to-image-a-drive-and-when-to-clone-it.html
You could use Partition Master Free to create the new partition quickly and free.
After installing the windows system, the rest space is enough for your others files and applications? Suggest you to add the disk 2.