I believe that all versions of emule allocate the file space. There is a trick to it if you are tight on HDD space like me. If you're running XP (if ur runnin windows then it better be xp) right click the part files folder and go to properties/advanced button and then compress folder.
You can save heaps of space that way! take my drive for example
Full size = 7.13GB
Compressed Size = 2.59GB
this is with about 20 downloads in emule so I am sure those of you with 200+ queues will benefit greatly.
Also the new Emule versions will decompress the file once it is complete automatically for you

This uses slightly more CPU time when the file is completing however the space it saves is definately worth it.