James Ratna,
Since you already meet the hardware requirements and the fact that the Windows XP End of Support date is right around the corner, you’d be better off staying with
Windows 7.
You have the ability to run your Windows XP applications in
Windows XP mode. As long as you’re using Windows 7 Professional, Enterprise or Ultimate editions, you can run programs that were designed for Windows XP.
Windows XP Mode works in two ways—both as a virtual operating system and as a way to open programs within Windows 7. It runs in a separate window on the Windows 7 desktop, much like a program, except it's a fully-functional, fully-licensed version of Windows XP. Using Windows XP Mode, you can perform tasks as if you were using a computer running Windows XP.
One thing to keep in mind is that the Windows XP mode follows the same support lifecycle as Windows XP. Extended support will end April 8, 2014. For more information, see the
Windows lifecycle fact sheet.
Mike
Windows Outreach Team – IT Pro
The Springboard Series on TechNet
Windows XP End of Support
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