Well, I've looked at about 25 links on the subject, and NOBODY has mentioned anything about the XP source disc, product keys, authorizing etc...
CAN I USE ONE OF MY MANY OEM DISCS? or,
HOW CAN I USE AN ISO IMAGE?
Thanks for helping me- and those that follow...
If you have ISO image, burn it on CD using Nero or any other image to CD burning software.
CD will become boot able and can be used to install the OS.
If you want to install both XP and Win7 on same system with dual boot.
Install WinXP first on 1st drive (C:\) and then install Win7 on 2nd drive (D:\).