In XP,your emails will probably be stored in...
C:\Documents and Settings\ logon \Local Settings\Application Data\Microsoft\Windows Live Mail
Some of the folders here are hidden, so what you can do is go on Run in the Start menu and type-
%homepath%\local settings\application data
and press Enter. You'll find all your folders here.
Where does Live Mail store Address Book and Sent items. Need this to rebuild to a new computer after old failed wine immersion test !
Backups done with a version of Acronis not W7 compatible before you say should have backed up.