According to microsofts website, XP will allow you to chose which operating system to run as default and give you the option to chose which you want to run.
Better explained here....
To specify the default operating system for startup
1.
Open System in Control Panel.
2.
On the Advanced tab, under Startup and Recovery, click Settings.
3.
Under System startup, in the Default operating system list, click the operating system you want to start when you turn on or restart your computer.
4.
Select the Display list of operating systems for check box, and then type the number of seconds you want the list displayed before the default operating system starts automatically.
Note
• To open System, click Start, click Control Panel, click Performance and Maintenance, and then click System.
• To manually edit the boot options file, click Edit. Microsoft strongly recommends that you do not modify the boot options file (boot.ini). Doing so may render your computer unusable.
Although this comes from their "Windows XP Professional Product Documentation" I dont know if this is the same for other XP versions.