If you're just asking about how to estimate the size of the Nandroid backup, then you can issue a "df" command from and adb shell or Android Terminal Emulator app.
That "df" (disk free) command will show you a "Size" column for each filesystem. The ones that you would typically backup in a custom recovery would be /system, /boot (won't be shown), /cache (optionally backed-up), and /data.
The boot partition won't be shown by "df" however--but relatively speaking, it's not a large partition compared to the others.
The /data partition would be backed-up minus the /data/media portion if your device is using an "internal SD card". If you've got a external card and your /sdcard is truly separate, then this will indeed be the size of the /data partition that would get backed-up.
For example, here's my Nexus 5:
Microsoft Windows [Version 6.1.7601]
Copyright (c) 2009 Microsoft Corporation. All rights reserved.
C:\Users\Scary Alien>adb shell
* daemon not running. starting it now on port 5037 *
* daemon started successfully *
shell@hammerhead:/ $ df
Filesystem Size Used Free Blksize
/dev 928.0M 40.0K 928.0M 4096
/sys/fs/cgroup 928.0M 12.0K 928.0M 4096
/mnt/asec 928.0M 0.0K 928.0M 4096
/mnt/obb 928.0M 0.0K 928.0M 4096
/system 1009.3M 1006.0M 3.3M 4096
/data 12.6G 11.5G 1.1G 4096
/cache 689.8M 17.9M 671.9M 4096
/persist 15.8M 4.2M 11.6M 4096
/firmware 64.0M 44.3M 19.6M 16384
/mnt/shell/emulated 12.6G 11.5G 1.1G 4096
My N5 doesn't have an external SD card, so to figure-out the space used by my "internal SD card" I did this:
shell@hammerhead:/ $ su
root@hammerhead:/ # du -ks /data/media
8975536 /data/media
root@hammerhead:/ #
So you can see that almost 9Gb of the 12.6Gb reported for my /data partition is actually being used for the internal SD card.
Hope that helps!
