I have in the past, and am sure some of these guys here, have done exactly that and had no problems. When you install xp it puts a lot of software on your drive that allows lots of hardware run. If you have the cd that comes with the -motherboard- you might get away with it. Then all you would need to do is a windows update. Now, since Mr Microsoft has changed things with the authentication bs you might not get away with it. It's been a few years since I've done it so I don't know. Worth a try IMO.
Is this a home built original or a dell or gateway or something ?