You probably know this already but just in case I will say it again.
Microsoft no longer support XP which means any new vulnerabilities (and there will be plenty) have not been patched, which means it is a major security risk. For that reason alone I would avoid this OS now. However, if you are going to use it just make sure you don't put any sensitive data on it and that you backup everything you need regularly.
Windows 7 includes a "Windows Classic" theme that makes it look like XP. That's probably a better bet than trying to get XP running on a modern laptop (without using a VM). Unless you have a rare 64-bit XP install disk, XP is also going to limit you to 3.25 GB max memory, 2 GB per process, and 2 TB max HDD size.