I would second much of what RealBeast has stated. You will definately need to D/L all the XP drivers from the MSI site for that MB. The only drivers you actually need to proceed with the install are the SATA drivers. Without these, XP will not recognize that WD drive.
You will need a program like nLite to slipstream those drivers along with the XP install files into a new ISO file. Then use a program such as Yumi or Rufus to make a bootable USB flash drive. (be sure your BIOS is set to boot from other devices including USB). On some systems the bootable flash drive might not be recognized on 1st attempt, so you might need to get back into BIOS again and set (scandisk, or whatever) as 1st boot device.
Also, having used XP x86 for years, I recently installed and removed XP x64. I was surprised at how many problems I encountered with supported software. The 32 bit version is much less of a headache!