True, but since any boot OS on a separate partition isn't technically installed "on Lion" or whatever the "other" OS might be, it's probably fair to say yes.
The more challenging question is will Windows XP run on some future Mac hardware as a boot OS, and that truly is impossibly to know until that hardware is released and someone tries it.
So if you're booting Windows XP via Boot Camp on your computer now, you should have no trouble continuing to do so once your Mac OS X partition is upgraded to Lion.
While technically it is "not possible to answer the question," yes it will run. You can dual boot the system without Boot Camp, and since the system will run both Windows and OS X then you will be able to run Windows. Additionally you can run Windows in a virtual machine. As for Boot Camp, Apple has supported it through Snow Leopard and there is no reason for (or indication that) Apple will change this in Lion. It is very safe to assume Boot Camp will function as it always has.
If you are not gaming, using VMware Fusion or Parallels to virtualize Windows XP under Snow Leopard is very convenient, since you can run OS X and Windows at the same time, even copy/paste between open documents in the two environments.
As for the question "will VMware Fusion or Parallels run under Lion?", then we are not allowed to speculate, but my Googling has not unearthed any evidence to the contrary, and I feel confident that my investment in Fusion will not be destroyed.
You might like to read this web page - http://communities.vmware.com/thread/316031
What sort of programs do you need to run for your university career? If they are compute-intensive they will work very well virtualized. The ones that slow down when virtualized are typically graphics-intensive (like games).
supports existing Boot Camp installations with Windows XP Service Pack 2, Windows Vista, or Windows 7. New Boot Camp installations require Windows 7 (sold separately).
I found this on the official Apple website under tech specs for Lion. Sounds like Apple took the "reasonable man" approach and decided not to unnecessarily aggravate thousands of loyal customers who still need XP for one reason or another. Works for me!
You should try asking in the Boot Camp forum where the Boot Camp gurus hang out? https://discussions.apple.com/community/windows_software/boot_camp
You should also be aware of this.
There are no XP or Vista drivers for the new Apple computer hardware. Apple stopped XP and Vista support. http://support.apple.com/kb/HT4410.
Yes you absolutely can install Windows XP on Mac Lion OSX. "When there's a will, there's a way". Here's how:
1. Go to Applications
2. Go to Utilities
3. Go to Bootcamp Assistant
4. Follow the instructions, but do not install Windows XP using Bootcamp Assistant. Just create a partition using it
5. Insert your Windows XP disc into your Mac
6. Restart your Mac
7. Upon hearing the startup chime, press and hold 'Alt' on your keyboard
8. Select the Windows XP disc
9. Press 'Enter'
10. Press F8
11. Choose the option to install Windows XP on your Bootcamp partition
12 Choose the option to format the partition as NTFS
13. Sit back, relax, and let your Mac do the rest
14. When your Mac automatically reboots, be sure to be there
15. Upon hearing the startup chime, press and hold 'Alt' on your keyboard
16. Go ahead and select your 'Windows' partition
17. Well, you probably know the drill for the rest of the steps
-Supported from my iPhone. Any questions? Please ask.