The information I have is that if you install a DELL machine using a XP CD from Dell, windows will be automatically activated because the oem files included on the cd and the brand information on the computer BIOS.
are already stored in the BIOS and the OEM CD will only work if it sees certain hardware.
I agree and previously it was possible to install the O/S from an OEM CD on more or less any computer but that was corrected sometime ago, for the same reason stated.
I DO NOT think it will work as the OEM identifiers include the language of the install and although the MUI (not available on download anyway or on normal retail sale) can be installed on XP Professional it was never available for XP Home
For instance the identifier for XP Home OEM in French is
76412 : XP Home - French (OEM)
Totally different form the identifier for the XP Home English.
and I believe, although I would be interested to see the result, that the French installation whilst it may install will not get further than that.