Or you can follow Bold Fortune's original
Slimming Down Windows XP guides and do it post-install.
He also created batch files to do everything he does in his guides but asks for a donation
here, you would be wise to see if you can contact him first though as that blog hasn't been updated in 4 years.
I used to use his batch files on every install I did before I started using nlite to remove the fluff in XP pre-install.
It's quite an easy to follow guide but you would be wise to make a OS image after you've gone through each step that you wish to do, (plus the obligatory pre-butcher image).