You can dual boot Windows and Linux without issue.
However, Windows is like that bratty kid you went to elementary school with who always had to be first. If you try to install Windows after Ubuntu is already installed it will give you an error and the only recourse is to wipe the disk or install it to another disk entirely.
So, you need to install Windows first, then Ubuntu.
Also, install Ubuntu 12.04 or the 12.10 beta for much better driver support.