Is it possible to install two installations of XP on same hard drive (in different partitions/drive) and use bootloader to boot into required installation? I am planning to use one installation for browsing, playing games, etc which, even if got corrupted/virus attacked, I wouldn't care much. The other one I am planning to use for serious work.
Do you really need two different installations? I think two or three partitions are just enough. For example:
d: game & others
e: serious work
Then you may create different users. If you revoke the write right from the gaming user for e:, your work is safe. And so on, the details depend on you...
you might want to consider dual booting linux (ubuntu/mandriva for example) with windows xp... linux for work, xp for play. That might give you more flexibility that having two xp installs.
Yes it is possible, as long as they are installed on different drives or partitions. Just run XP setup by booting from the disk, and select a different partition at the partitioning screen to install to.
If you need to resize any partitions to make room, make sure any data on those partitions is backed up, as I have seen many partitions go *poof* after trying to resize them.