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Windows XP will not run in Windows 7 Home versions. It is possible to run Windows XP in a virtual window, but you still need a valid license number to install it in the virtual machine.
Windows 7 professional will allow you to download and install Windows XP in a virtual mode for free. The only issue is that your hardware must be able to handle a virtual mode. (Most new machine BIOS have a setting to enable Virtualization, but it is usually set as Off by default.
Hope this helps...
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