Time of format depends on Hard Drive size, which is why I asked.
Also, the ribbons on your HD in your new computer are probably 80 pin cables whereas the ones from the old hard drive your talking about are probably 40 pin cables, so you don't want to try using them with the new hard drive.
Generally speaking if you can partition a drive, the ribbon should be ok. Usually if it's damaged the drive doesn't even show up.
I don't know how the setup for WinXP is, but when installing Win2k you can create and delete partitions at setup and have the setup utility format the drive using the file system of your choice without having to reboot.
Try setting your computer to boot from your CD drive and then put in your WinXP disc, reboot, and run the setup program. Do all your partitioning and stuff right in setup. If you still can't make any headway you are going to be better off taking the machine in to have a tech fix it for you.