You can make a boot floppy for Windows XP by right clicking on the floppy drive icon, selecting format, then placing a checkmark in the "Create an MS-DOS startup disk."
This option, however, offers a false sense of security. That's because the XP boot disk you create won't start your CD-ROM or access any drives formatted with XP's NTFS file system.
However, if you have a modern computer, you should be able to boot from any retail or OEM version of the Windows XP CD-ROM just by popping it in your CD-ROM drive and restarting your computer. The disk has the tools to let you install or repair Windows and to partition and format your drive. Better yet, download our XP Help file and make one of our Windows 98/ME boot disks before you upgrade, or see this Microsoft link click here.
yes win xp starts up ok with either a win 98 or win m/e start up disc. takes you through to the basic start up prompt.
i have wiped the mbr several times without upsetting the o/s and files. the system simply creates a fresh mbr on re-starting. this applies to a fat32 installation of win xp - it might be different on ntfs