Adobe Reader 11.0.16 (MUI/any specific language version) is known to be working fine under Windows XP SP3.
But after updating to version 11.0.17 and starting the program for the first time there is an error message pops up complaining "Font Capture: AcroRd32.exe - Entry point not found" with additional info "The procedure entry point InitializeCriticalSectionEx could not be located in the dynamic link library KERNEL32.dll". As far as I know, InitializeCriticalSectionEx kernel entry point doesn't exist in XP kernel (it's a subject of Windows Vista and later).
I can't confirm this behavior on 100% of the XP running systems so it's just a warning currently. Waiting for more info... Feel free to post anything related.