You can convert it back to basic, but not without losing the data.
Richard is totally right by stating that the only real way to convert it
back to basic is by formatting. Here is the guide for you
Back up or move all volumes on the disk you want to convert from dynamic
to basic.
For more information about backing up volumes, click Related Topics.
Open Disk Management, Go start-run-type compmgmt.msc and hit ok, now
click Disk Management
Right-click the dynamic disk you want to convert to a basic disk, and
then click Delete Volume for each volume on the disk.
When all volumes on the disk have been deleted, right-click the disk,
and then click Convert To Basic Disk.
You must be logged on as an administrator or a member of the
Administrators group in order to complete this procedure. If your
computer is connected to a network, network policy settings might also
prevent you from completing this procedure.
The disk must be empty before you can change it back to a basic disk. If
you want to keep your data, back it up or move it to another volume
before you convert the disk to a basic disk.
Once you change a dynamic disk back to a basic disk, you can create only
partitions and logical drives on that disk.
Do note that this can only be done on Windows XP Professional.
Nathan McNulty