Yes, it produces an XP cd that seems to install fine. I was still using the "old" version up through the August updates. Your program is still the only one from this board that produces a 100% solid CD (for perfectionists). I've tried the current versions of Nlite, HFslip, RyanVM, etc. They are nice for hobbyists but each produces unacceptable variations from what you get by manually installing the same things.