I have an XPILO computer from staples that came out of the box with xp loaded on the computer but not installed. There is a sticker on the case with the operating system KEY registered on it.  On first power up you go through all the necessary steps to INSTALL the operating system.  The operating system is XP Home Media center Edition with sp2. I have had the computer for 2 yrs and cant complain, it has worked fine for me BUT. Christmass comes along and the kids get I-Pods. Two kids, two I-Pods. Now i NEED a program called "Quicktime". When I try to install Quicktime I get the message saying insufficient rights contact your system administrator.  Well I need Quicktime to be able to connect the I-Pod to the computer. No Quicktime, no songs can be downloaded to the I-Pods.  After many tries at installing Quicktime with failure as an outcome. I FIGURES there was something done at the first installation that was causing this so the easiest thing to do is to replace the operating system with VISTA.  To keep things short it didn't work and I keep getting STOP  0X0000005C in a blue screen.  I have run Registry cleaner. And thought about updating the BIOS. (there is a disaster in the making).  Now i have to keep hitting the F keys to get to a page where I can select to revert to the previous operating system. How do I reinstall XP or get rid of VISTA to get back to where I was two weeks ago.Sorry, you went down the wrong track.
Quicklime works fine on XP.
This issue is permissions on the machine.STOP 0x0000005C or HAL_INITIALIZATION_FAILED error is pretty rare and is likely caused by hardware or device driver issues.
In your case, I'd back up your data, and go for XP clean install: http://www.michaelstevenstech.com/cleanxpinstall.html