IE is too integrated into XP itself to get rid of entirely. The most you can do is hide it. SP1 for XP lets you hide it and choose a different default browser. I forget if XP gives you an option to pick which "components" you want to install during the install of the OS; the earlier Windowses did. If not, after XP installs, you can Add/Remove Programs and remove all the Windows components you don't want. Getting rid of Solitaire and crap like that isn't going to save you many resources or anything.

EDIT: Darn it, you beat me.