No, Windows-XP is the first true generation of no more Win9x kernel for the desktop market. It's kernel is based on WinNT (now 2000). It's like windows 2000 (NT-5) but more features and a facelift. I don't like the generic face it has but I'm sure its very changeable (always has been......as long as you know how :0) ).
I think its a good move for them, hell I like using NT for my workstation (well 2000) and it's nice having protected memory spaces, NTFS-5, ect.....Photoshop, Dreamweaver and everything else runs fine for me.
Until the ports of all my favorite apps come to FreeBsd or Linux ....I have to stick with WinBlows.
Home: pIII-650 , 256MB, 30 GB, Sb-Live, Voodoo4,
w/ Win98se,Win-2000,Mandrake 7.2
Work:
Server :G4-500,256Mb,Dual 18Gb SCSI, ect.... running Mac-OS 9 w/appleshare ip (for admining those 100's of iMac's and Web)
Desktop: iMac 350, 128Mb
Laptop : Ti-Book 400 , 256Mb (os9.1 + os-X)