(New way... what's this talk about a new way?)
I heard about a program called 'nLite' on DL.TV; it is a slipstream/automation program that lets me take a copy of XP and integrate service packs and hotfixes onto a bootable setup CD. In addition, I can set options for things I use (ex: show hidden folders, disable 'auto hide' for system tray) and add in applications that I always use (Firefox, AVG, DVDShrink, and lots of others).
While looking for a good list of service packs, I cam across RyanVM's XP Post SP2 updates- which also includes detailed instructions for use with nLite.
usually rebuild my systems about every 3 months, and these pages combined will save me a few hours for each build! :o)