You're talking about that XP mode that Pro has that is actually a form of virtual machine. That's not what we're dealing with, here. I have Home Premium 64 as well.
With that XP machine you could install and patch it normally. You'd just have to do the Dantooine lag fix and set FullScreen=1 in the swkotor.ini file and set CPU core affinity every time you launch the game if it has a multicore CPU.
"Mind your wants, 'cause someone wants your mind."