Are there negatives to Easybcd? I am going to have three partitions: win7/lubuntu/shared ntfs. Could I even get a third partition with the alongside method? I know easybcd works, but would prefer to use the tools given from the OS provider if possible.
It depends on the order you install in. Windows will remove GRUB and prevent Linux from booting if installed after Linux, so you are probably better off with easyBSD in that case.
If Windows is already installed, the Linux OS will usually install GRUB with references to all of the existing OSes. Ubuntu does a very good job of this, and I assume Lubuntu works similarly.
I haven't found any negatives to easyBSD except for a slightly longer boot process since you have to go through the Windows boot menu.
You should be able to add a third partition the same way as you add the second if you have enough hard drive space.