I just put together 4 x 750GB in RAID5 so 2250GB before formatting.
I made a partition of exactly 2TB, but after formatting it shows as 1.90TB.
Should I have made it bigger if I want to make the partition as big as possible?
When you say "exactly 2TB", you mean you told it to make it 2,000,000 MB in size? If so, remember "gigabytes" vs "GiBibytes." That is, remember that 1MB is 1,024 KB, not 1000. The same way you said 2250GB of total storage, but that's in decimal- it's around 2.1TB in binary.
Don't forget that if you are using Windows XP Pro, the limit is 2 TB, if you are using Server 2003 the limit for 32 bit is only 2 TB, Server 2003 SP1 you can go pass the 2 TB barrier but by converting your basic disks to GPT.