Yep, we've done that on a couple of machines (MacBook Pro and Mini).
Runs like a bat outta hell!
In fact, XP runs faster on Mac hardware (native, as above), than on any other comparable "built for Windows" hardware!
Per PC Magazine (yes, the one with I-Hate-Apple John Dvorak), the fastest Windows laptop... is the Apple MacBook Pro.
Stupid question:
Does the MAC mouse still have only one button? No right click or scroll button? How can a MAC run XP in virtual mode when the user hardware is incompatible?