Well, I've known W2K and XP system registry-corruption to occur from several things. Since the registry is stored in RAM, flaky RAM can cause issues when it is written back out to disk. Another thing that can cause it is the type of shutdown that you use, and this also relates to your IDE controller drivers.
Is the XP OS installation, connected to the HD on the mobo IDE controllers, or to the Promise controller?
I'm going to go out on a limb here, and suggest that you probably have your XP system default-configured to actually power-off your system on shutdown. This is probably THE most likely cause of this issue, next to bad RAM. The problem is that Windows' writes out the registry as one of the last things that it does before shutting down, and modern HDs with large caches, with write-cache enabled, will signal to the system that the data is "written", even though it hasn't actually been written to the disk, only to the HD's onboard cache buffer. The Windows' OS, meanwhile, thinks that it is done writing to disk, and then signals the mobo to trigger the switch to shut-down the ATX power-supply. This kills the power to the poor HD, that is in the process of writing that last chunk of data in it's memory-buffer out onto the actual disc platter. Unfortunately, if the power gets cut out too soon, it cannot finish doing that, so it aborts the write and retracts the heads off of the platter so as to not cause a "head crash" when power is cut.
So that last bit of data, which is usually some chunk of the system registry, never gets written to the disc.
When the computer is powered-on again, viola, some critical chunk is missing, and Windows' won't boot.
The worst part of this problem is, it is very much timing-related, and may shutdown without issue hundreds of times. However, you just need to have it happen one little time - "gotcha", and then you are screwed.
However, seeing that you are using XP, and assuming that System Restore is not disabled, then I'm sure that Smilin will probably soon post about how you can restore the system registry file from the registry backup contained within the most recent Restore Point. So all is not lost, hopefully.
My solution, to try to prevent this problem from ever happening, is to NOT install W2K/XP using ACPI, and to leave APM disabled, and disable "PowerDownOnShutdown", or whatever registry key that is. I also configure a Local Security Policy to "Clear Pagefile on Shutdown". That gives me an extra time-delay and ensures that the registry is flushed to disk first (assuming that the registry is written before the pagefile is cleared - I actually don't know if that is the case.) So when I select "Shutdown", it gives me the "Is now OK to power-down your computer" screen, and then I manually turn it off. (Or simply hit Reset if I want to boot another OS, because I run a multi-boot system.)