Transfer Files Between Mac & Windows With exFAT External Hard Drive

I have a Mac laptop and a Windows 7 desktop and I was wondering if formatting a portable hard drive to exFAT would be the best/easiest way to transfer files between the two? I'm gonna transfer files that would be 4Gb+ so FAT32 is out of the question and I don't really want to install anything to make NTFS or HFS+ readable and writeable on both. Any other suggestions or is exFAT the way forward? Also, will I be sacrificing speed using exFAT over NTFS or HFS+?
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