Setting up the first LVM partition

Most of the LVM setups I have created have been done by the OS installer. I wanted to add more disk space to a server that did not have any LVM partitions setup. Below are the steps that I took:

• added the hard disk (it was a virtual hard disk in this case)
• created a partition and assigned it the lvm partition type id using fdisk
  
• created the physical volume
  pvcreate /dev/sdb1
• created a volume group called system with the earlier created physical volume:
  vgcreate system /dev/sdb1
• created a logical volume to take up all the free space
  lvcreate -n storage -l 100%FREE system
• created an ext3 file system on the logical volume
  mkfs.ext3 /dev/system/storage
• Made an entry in /etc/fstab
  /dev/system/storage /storage ext3 defaults 1 2