I called MSFT and they issued me a new key over the phone after verifying my product ID number form the disk and matching it with records. It was quick and painless. Kudos to MSFT!
HOWEVER - now my re-installation of XP is taking FOREVER! It started with "Time Remaining of 44 minutes" and is down to 13 minutes, but it has been on 13 minutes for about 45 minutes now. Stuck on the process of "Registering Components".
Hopefully it goes through. If not, back to Fry's for a new HD and a clean/new copy of OEM Windows XP.