You can safely delete everything but systray and explorer. Actually I think those functions are started elsewhere in XP. You can also check the same path on HKEY Current User and see programs there.
Yeah, it said (the computer) when I rebooted that it was keeping the necessary files for windows so I guess that was some of them. I just tried it again and it rebooted 1-2-3.. I love it! This bull has been going on since last spring with me, I literally had to reboot like 15 times before it would take. Microsoft should direct all customer help to freerepublic. ALRIGHT!!! Now I can spend 20 hours a day on Freep instead of my usual 15!! YEAH!