Hopefully I'm not stating the obvious here [...]

Well, kind of, however, there's always those around who do not know yet

Of course the SP2 is a vital component, especially on a system featuring HDA sound.
For that, you will need the HDA hotfix (KB888111), which is provided by the DriverPacks (if you don't have it already through one of the numerous Update Packs, which also will provide you with all post-SP2 updates, very handy stuff in any case!).
The hotfix cannot (or rather should not, I never dared to try) be applied on a pre-SP2 system so that is one thing requiring it already.

SATA drives (I think AHCI functionality actually) is another issues.

In any case, if you are going to create your own XPCD (hence not using the original pressed shiny hologram copy ) by slipstreaming the DriverPacks, it only seems reasonable to include all those numerous Windows updates on the disc as well, esp seeing as DLing them after installation is some ~400MB plus countless restarts.

It's only foolish not to do so and I cannot state one single reason why you would not want that.

For any English copies of XP, your source of choice for this is http://www.ryanvm.net/msfn/ , btw

Sometimes the original XP won't load the SATA drivers.

You might also have to slipstream SP2 first and then add the driver packs afterwards via a 2nd slipstream. Using DVD RW's will also save you from wasting media -- if you add most of the driver packs you'll exceed the capacity of a CD anyway.

I post this as some colleagues I know only have the original Windows XP cd's (pre-sp2) as newer computers rarely gave you a Windows Install CD anymore.

I found that I had to slipstream SP2 first before I got an error free installation uisng the driver packs.

Ensure you have a running computer to do this on as well - --it's not much fun finding out AFTER the fact that Windows Cannot find any hard disks.

Cheers

Jimbo