I sure hope so, Windows XP is over 10 years old. I'd recommend every decent PC gamer out there to upgrade to Windows 7 anyways, because it's a lot more stable for games in my experience and it can handle the new hardware. 4GB or more RAM for instance, along with better multi-core support.
Also, the last generation of videocards to come out that doesn't support DX10 were the Geforce 7000-series and Radeon X1000 series, which wouldn't be fast enough anyway to run the game properly. I bought a Radeon HD 6870 for about $ 200 and it's a pretty fast card that will likely run most games for a couple of years in the high or highest settings.
DirectX 10 and especially DirectX 11 also produce a lot better images without the need of the fastest videocard (just a supported one). Example:
Crysis 2 DX9 vs DX11http://www.youtube.com/watch?v=l9-dwdourgE&hd=1