Yes - sort of. You have to establish a bootable Win32 partition, copy over the entire \\windows\\options\\cabs directory, and install from there. Make sure to get the key from the registry.

There must be some code in the files mentioned. When I tried to install from my CD, it failed - so I used Win2k to copy over the directory and all was OK. Then I deleted Windows 98 from the old machine. As far as I'm concerned, that's a legal use.

Ghosting would be better - then boot to safe mode and delete everything in Device Manager, including the system devices. (It's fascinating to watch Windows install everything from the processor up after this carnage.) This will also preserve your existing setup.