Hmmm.
XP 32 bit would not even boot without BIOS CSM in UEFI (if you prefer XP is ONLY BIOS compatible and NOT UEFI compatible), and ONLY the IA64 (Itanium processor) version of 64 bit XP used UEFI.
You need to go into your UEFI and enable CSM (Compatibility Support Mode) AND (maybe/possibly) disable a bunch of other options, you might need to check Asus documentation for the BIOS.
Anyway make sure that ALL ports are set to IDE, see:
http://www.overclock.net/t/1072574/problem-with-xp-on-asus-m5a97-evo
and try an UNtouched XP 32 bit source (it is perfectly possible that you did everything correctly but - for *any* reason - the slipstreaming of the drivers failed).
For the sake of the experiment, disconnect ALL other hard disks and keep connected ONLY the disk where you wish to install XP.
jaclaz