Yes you can make a CD of your O/S from the hidden partition as discussed on the other thread. You CD rom driver disk would take care of your drives but you will also need the drivers for your motherboard/graphics card/sound card modem etc.
You may already have these but if not they can most likely be downloaded from the internet before doing the format of your drive.
Also if you are on XP and need SP1 as a separate application this can be downloaded from the Microsoft site and "Slipstreamed" onto your new CD turning a basic XP disk into a XP SP1 disk.
Corrupt or missing files will be dealt with by inserting your new XP CD into your machine and extracting from there. j.