I'm not sure if this answers your question or not (Because I'm running XP Pro SP2).
But, I'm currently running, the following software on my development laptop, with no unusual problems.
Visual Studio 6.0
Visual Studio 2003
Visual Studio 2005
SQL Server 2000 (Devloper Version, I think)
SQL Server 2005 (Standard Version, I think)
Been running the 2005 software on the same machine since Beta 2 (with the requisite uninstall/install process for each upgrade)
Everything works great, It's a fantistic change from the days when you basically had to format your machine to go from beta to RTM.
Adam