From a tecnhnical point of view, XP will run as a virtual machine. However, since you mentioned the home edition, make sure you have a valid license key. Often home editions are bundled with the hardware, and it may not be possible to re-activate such a license on virtual hardware. Regarding "... that operate older Shop Floor machinery ...", how does it do it. Is this machinery somehow connected to the XP hardware, or does it manage the machinery over the network?
André