I would imagine the main problem would be to make an external USB CD ROM drive bootable from the bios to be able to do a “clean” install. Unless you could load the files on to the hard drive and do the install from there not sure how to access it without having a system bootable disk to boot from though.
I would have though that the machine specs would handle it, I have run XP pro from some much less capable desktop machines and I do not think there is a big difference in hardware spec between XPHome and XPPro, as the NC10 comes preloaded with home it would prob run OK, just out of interest why do you want pro over home?