I think it would be interesting to give it a try, from a technical IT geek standpoint , but you probably don't want to pay for a copy of Win8 and then find you can't use it.

Migrating a PC this old doesn't really make sense from a financial point of view, I was just curious about it. I guess I'll stick with XP until I have time to research the next PC I'll want to buy. Thanks everybody for the replies.

I'm running one of the same era...see below and it works fine...for the software of the day.  Problem is I can't upgrade to X3 and other stuff too.
 
I think Win8 would make our computers wimper and beg for their lives.  I'm getting a new one, but plan to continue to use this one as well for other tasks that it can easily handle...  like email!!