Hello linderman
I can't really tell you how grateful I am for the wonderful insight that you have provided. I was completely in dark when I wrote my question and after reading two of your posts things are quite clearer now. Thank you very much.
Could you please clear my few more doubts?
1. I have 1 original XP pro which is without SP2. It came with my Compaq PC, so I think it is an OEM version. So does OEM version provides repair install feature?
2. Does a corporate edition XP CD provide Repair Install feature?
3. Is it a good option to make a slipstream XP CD from my present installation? Though I have no idea how exactly can I make it and what exact feature/advantages does it provide.

I only heard that this will at least save me from installing all the updates that MS so generously provide.
Please understand that there is no way I can check this feature beforehand and I do not remember of doing any repair install ever. Though I used Recovery Console using the without SP2 Xp Pro CD. I never found any repair install feature in it.
Please advise.
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Registered Linux user #426065