If you look around on the Asus support forums a large number of questions are related to installing Windows XP on their laptops. Several guides on the Web provide information on the key steps to perform this installation. Here's an additional short guide that draws on previous information, for the V2S:

1. You need to start with a Windows XP driver that includes the SATA drivers. This is explained in this thread. A nice guide to produce this CD, with detailed steps, was written by ChaosHardware; these pages also explain how to setup Linux Ubuntu on this laptop. Finally, you can also check this info relative to other Asus models, for extra information (many models share similar hardware adapters).
2. The order of installation of the drivers is very important to make everything work. Please check this info before you start.
   
3. To get the latest drivers available, use the ones of the F3Sc model, provided by Asus. Dowload all the available drivers and utilities.
4. Before installing the Bluetooth and the Wireless drivers, make sure you install the Wireless Console utility. Also make sure that the hardware switch on the front (right) is on the ON position!
5. To install the wireless adapter, choose the Intel 4965AGN driver on the F3Sc page.
   
6. To install the LAN adapter, download the latest driver for the Intel 82566MM Gigabit adapter from Intel.
   
7. To install the 3G card and the camera, use the drivers on the V2S download page for Vista 32. The camera on my laptop is the D-MAX 5A31 (you can get this info from the device manager control panel).
8. If your sound and modem adapters don't show up, after installation of the UAA, sound and modem controllers as above, you might be experiencing problems with the Microsoft UAA Bus Driver. Just go to the System\Device Manager control panel and check under System Devices. If you find an "unknown PCI" yellow icon, double click on it. Windows should be able to recognize the hardware and find the appropriate drivers. If not, follow the more detailed instructions here.
   

A final note: The screen resolution (1440x900) is really too high for the Windows XP fixed dpi interface, which uses an 8 point font. You better change the screen size to 10 points (right click on the Desktop, use the Advanced properties tab), to avoid major eye strain. Also, install the Microsoft ClearType control panel for more clarity: get it from here (ClearType Tuner PowerToy).

Enjoy your new machine!