Thanks for all the replies, it would seem as long as I keep a list of all peripherals and drivers and back up the disc before I start it won't be too bad.
The principal reason for upgrading was to be able to play black ops 2 which doesn't support Windows XP, however, by the time I've bought Windows 7 and the game it's going to be over a hundred quid, think I'm going to have to wait for a bit, or I could sue Wiggly Amps Ltd for breach of copyright of my name.
Wigglyamps