Removing IPC$ Share (Remote Netbios Attack Vulnerability) and MS08-067

You can remove IPC share to avoid any security issue in future. You will need to do a small changes to block it completely. So I found some steps on the web that shows the way to prevent this. It shows a modification to be made in Windows registry. The process is to go in registry editor and modify the value of restrictanonymous to 1. It is located in HKEY_LOCAL_MACHINE > System > CurrentControlSet > Control > Lsa. This would not allow remote logon. So I just want to know that does this also work for XP.

I do not think this is really a big issue. To find whether it works on XP or not, you will need to test the same. It is always recommended to keep your system upto date and install a good antivirus solution also. It will keep a close track on all incoming and outgoing connections.