Yes its possible [but you might not able to install games]

You would need nLite [ http://www.nliteos.com/ ] and take a look [ http://unattended.msfn.org/ ] . With my original Windows XP Professional -Retail , I managed to create a New Windows XP Professional CD with SP2 and all my drivers for my COMPAQ Presario Lappie + AVG Antivirus and some tweaks as well....Its pretty neat..