Dual Booting:win2000,XP:Norton Ghost?

I have HDD formatted NTFS with one basic partition.There is 73% free space (~29G)
I have Ghosted an image of the drive to CD and ghosted image of the partition likewise.
Will it work if I use partition magic to create another NTFS partition beforethe XP and load up Win 2000. If I lose the XP I will put the partition image into the second partition. I dont want to have to reload the OS and go through the hassles with registering again and downloading SP1. Any comments please, whether I am right or wrong. Others use the PC and downtime has to be minimised. El Gordo