Jay Marcyes

From the page:

1.  You do not want to delete/uninstall the Hotfixes, if they are still listed, they are most likely current and valid.
If you delete the Hotfixes you also remove the protection/enhancement they provide.
However you can safely delete the uninstall files.  Once you are sure you will keep the Windows XP Service Pack, it is safe to delete the uninstall files.

2.  The files may be hidden, to show the file:
Go to C:\WINDOWS
Click the top TOOLS, click FOLDER OPTIONS, click VIEW
Check the radio button. "Show hidden files and folders"
Click OK and you should now see more files.

3.  Go to C:\WINDOWS and delete "$NTServicePackUinistall$" about 240 mb.
Then go to Add/Remove Programs.
Click "Service Pack 1"(2), there will be an error since you just deleted the file.
Click YES to delete the shortcut.

4.  Use similar procedure to delete uninstall files for the updates.
The updates will be in this format "$NTUninstall********"
Do NOT delete "$hf_mig$"

5. The file "C:\Windows\SoftwareDistribution\Download" may also be safely deleted.
Depending on installation method of the service Pack, this file may not be present.