Running XP on 64Mb of RAM? Hah! I'd like to see you try.
It might actually work, but no way would it be pleasant. XP would probably just use your Hard-Disk as virtual memory, and we all know that your HD is the slowest component in your computer.
Nah... If you have XP, you'd better have 256 RAM or more... I don't care what those minimum specs say.
Tovi 
