Sure it does. Support in this case means no NEW updates and you can't call up Microsoft on the phone to get help, but all existing updates will be available for quite some time. It was getting to be the twilight years of Windows 2000 and I remember there was still one old NT4 box sitting in a corner somewhere where I worked at the time. NT4 had been EOL for a good year or two by this point, but I still started downloading updates from Windows Update for it until my boss at the time said he was intentionally leaving it unpatched in the hopes it would die a quicker death that way and give him an excuse to replace it.
However, it would still be a wise decision to have a migration plan worked out that will see you off XP by the end of the year if not sooner. As of Tuesday the 8th of April, 2014, it was officially open season on XP from now until it's ultimate extinction. The longer you stick around in XP land the more likely it is your system will be co-opted for some nefarious purpose.
I am having sound problems with my PC and want to use system restore to find out if it solves the issue. But Windows Update no longer supports XP: System restore will mean going back enough that recent updates will be gone. How can I get those updates if System Restore solves the sound problem?

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