What do I need to install XP, prodouct key and...?

I'm so sorry to be posting again -- my computer problems are driving me nuts! I just want to make sure I have everything I need to install Windows XP.

So, I do not have the original copy of Windows installed on my current, dying hard drive. I want to install a new hard drive. I use this program called Magical Jelly Bean to find my product key, a 25-character code. If I can borrow a copy of Windows XP setup discs from a friend and use that product key, am I OK? I am assuming that is the key I need to install the OS. Does it need to be Windows XP Pro, which I have on my computer now? Will this code not work on XP Home edition discs?

Please tell me if I need anything to finally switch hard drives. I can't wait to be done with all these problems!!

 

Ah, that makes it nice and complicated. So I did some googling to figure out if this is OEM or retail. I found a list of codes in the version information that explain this. I found the ones that apply to me, but have NO idea what they mean. Could anyone help me... I just want to know what kind of copy of Windows to borrow. Here are my codes and their supposed meaning:

76487 : XP Media Center Edition 2005
76487 : XP Pro Royalty OEM
76487 : XP Pro volume license (with '640' channel ID)
640: Volume License (usually generated via 270 CID in setupp.ini)
All the codes: http://episteme.arstechnica.com/eve/forums/a/tpc/f/99609816/m/360007140831
My full code: 76487-640-7653635-2xxxx (Not sure if I should post the entire ting.)

What the heck is a volume license? Like for a bunch of computers in an office or something? Can I use Pro retail or... what? So confused.