Not until XP is officially dead.
Define officially dead? I’ve still got a Windows 2000 box in my lab, heck I’ve got some machines with NT4 images I just don’t use them anymore. You’re supposed to be able to run an XP VM inside 7 pretty well so converting doesn’t necessarily mean leaving it behind. But in the end that’s why I’m going to setup for dual-boot, that way my reliable tried and true XP install will still be available.