It's unlikely that a machine that old meets the minimum requirements for XP:
http://www.microsoft.com/windowsxp/pro/howtobuy/upgrading/sysreqs.asp
In brief, the minimum requirements are: 233 MHz CPU, 64 MB of RAM, 1.5 GB of
HD space. The *recommended* minimums are 300 MHz, and 128 MB of RAM. I can't
take that 1.5 GB minimum HD seriously; I have about 2 GB of stuff, *just in
my Windows folder*.
If you have broadband access, you can get the Download Advisor :
http://download.microsoft.com/download/whistler/Utility/1.0/WXP/EN-US/UpgAdv.exe
(32 MB), which will check for hardware and software issues. I don't know
whether it'll run under Win95, though.
If, by some miracle, the hardware meets the XP requirements, 95 is not
upgradeable to XP directly:
http://www.microsoft.com/windowsxp/pro/howtobuy/upgrading/matrix.asp
You can always do a reformat/clean install. (I've also read that a Win95
install CD can be used as qualifying media for a clean installation from an
XP upgrade CD, but I've never tried it. I've only used a Win98 upgrade CD
for that.) In principle, you could try to preserve stuff by upgrading to 98
and then to XP, but that would be an unusual approach.
Are you aware that XP can only be activated on one machine at a time?
(That's not strictly true, but it's not worth working around that. Of
course, there's always software piracy, but I don't recommend that.) Don't
try to install XP on your friend's PC with your product key, even if it
squeaks by the minimum requirements.
The short version: probably not a good idea.
Sorry that I can't be more encouraging.
Bob Knowlden
Address may be altered to avoid spam. Replace nkbob with bobkn.