Vista - Swap vista hard drive with XP HD

Anyone knows if this is even possible?

I purchased a new laptop with Vista Home Premium but would like to swap this hard drive with my old laptop's XP.

Do you Want to Swap the OS ? (i.e XP on Machine A and Vista on Machine B and you want XP on Machine B and Vista on Machine A) ?
IF yes then you can swap them without swapping the HD.

Anyways,always be careful about changing OS for a Notebook.Chk if the manufacturer has the required driver for the OS you are installing.
e.g: some laptops support only the OS they come preinstalled with and have drivers only for that OS.

If you are talking about changing the actual hardware to do a quick install, it will not work to well. The drivers on your xp installation will be for your old laptop. You will have to install the drivers for your laptop that it is going into. You can try it but be prepared to spend a while in sorting out xp. You may even have to do a clean install with the drivers ready to load from cd.