Firstly, could you find out what motherboard your system uses, secondly some of the older P4's and motherboards that support them only support 400mhz front side bus speeds, where as newer P4's are more likely to be 533mhz.
Yeah swapping it should be fine and you will notice a good performance increase. When doing so make sure you get rid of any thermal compound and apply some new stuff on the processor.
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