The thing is, the option to "Use the free unused space on the windows partition to install PCLinuxOS" with the slider, simply was not there.
I have installed PCLOS KDE version enough times to know it well, and it did look like the same DrakLive tool so I could not figure out why i didn't even have that option. I'm comfortable with using the slider and it has always worked well.
So I thought I will use Partition Wizard from MiniTool company to take some free space from my windows partition and make a new partition for PCLOS resizing the windows partition. On trying to resize the partition, I got an error that it could not resize and I needed to run Check Disk (CHKDSK.exe). On booting back to windows and running CHKDSK I found i had file index errors on the drive. I then used the CHKDSK /F option to let it repair the errors ( That's what the /F flag is for)
It fixed all the errors and suddenly, DrakLive was able to give me the "Use the free unused space on the windows partition to install PCLinuxOS" option.
So apparently if you have any errors on your disk even though your not having any problems, DrakLive may not give you the option to use the free unused space to install to. You guys may wanna keep this in mind in case anyone else has this problem.
I then allocated the space I needed with the slider, let DrakLive resize my drive and install PCLOS and everything worked just fine.