This is my very first guide, I had been wondering about how I could Restore my personalized sounds every time I reinstalled XP and seeked out to Neowin for help, after alot of thinking and hit n trial runs, I finally managed to make it work and its very simple - n you can make your own too -)
I would like to thank everyone who participated in my discussion and helped me gain knowledge through their posts.
Post I
Anyway so this is how we go about it -
Step 1. Save your personal sound files somewhere other than your Windows Drive, say D:\My Sounds\
Step 2. Personalize your sounds via Sounds & Devices under control panel.

Step 3. Open your Registry Editor - Start -> Run -> Regedit
Step 4. Goto HKEY_CURRENT USER ---> AppEvents ---> schemes ---> Apps

This is where all your sound schemes, every key under .Default, Explorer, MSMSGMS, etc holds the location to your current sounds.
Step 5. Right click on the "Apps" main folder and Click on the Export option and save the Registry editor file.

Step 6. Thats it - Whenever you want to restore your XP sounds, with every new install or whatsoever, just double click the saved Registry File, click on Yes and voila! its done =)

Thank you for reading through!
I hope this helps others the same way it helped me!
Any criticism/appraisals/comments/suggestions are invited =)
Regards,
Sibot