I was able to verify it this morning
I used the hard disk from my Toshiba laptop which has a dual boot windows 98/xp and connected it to my pc which has an AMD based cpu at 1Ghz
The only glitch I observed when booting windows 98 was something about emm386 mot being active bur after a few seconds it continued to load and then started detecting the new hardware
On the windows xp side I didn't get too far It started loading and stopped at the end of the black screen with the white progress bar and then it just hangs there I rebooted and selected safe mode with command prompt and I was able to see the drivers being loaded The last driver was agp440.sys at which point
it would just hang there

So I think I will always set up my hard drive to dual boot windows 98/xp just to eliminate the hassle of repairing xp in case I need to swap the hard drive into a new pc that way I am up and running in no time then fix xp later on
This was a good information for me to know about xp
Thanks to all that replied