Upgrading Windows XP to Windows 7 problem?

I have a hard drive with a genuine windows XP installed. However, it is unable to boot because of the "windows/system32/config/system" file is corrupt. I do have a copy of "Windows 7 Ultimate UPGRADE" (genuine as well) burnt to a disc. My question is, am I able to load up this CD with windows 7... show more I have a hard drive with a genuine windows XP installed. However, it is unable to boot because of the "windows/system32/config/system" file is corrupt. I do have a copy of "Windows 7 Ultimate UPGRADE" (genuine as well) burnt to a disc. My question is, am I able to load up this CD with windows 7 upgrade on it and install windows 7 as normal or will it not work because that "windows/system32/config/system" file is corrupt?
Update: @Darryl (Sorry, new to this thing :/)
So it will boot into the install process as per normal and whether that file is corrupt/missing or not shouldn't matter?
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