if you are going to be installing XP, as long as you format the drive and don't try to install over the top you should have no issues.
If you have a good sized hard drive, I'd be looking to partition it during the XP install so that you can have a separate partition for XP, one for your own files and one for the page file (virtual memory) and perhaps another for an installation of linux so you can boot into that if you have problems with windows. Linux was a brilliant for me when I had to repair windows after a nasty rootkit took hold. It also means you can still get to your own files should windows die on you. Or you could go back to windows 7 if a big patch fixes all your issues without having to move all your own files first.
I now switch between XP and Ubuntu (linux) depending on what I'm doing. As linux is pretty much virus free I use it for my e-mail and website stuff and I use XP for gaming.
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