I was using Win XP, right up until the current no-sound issue in GSF. That, and a random boot issue I was having made me decide to try out Win 8.1 64bit for the hell of it. I too was seriously worried about driver issues as my PC hardware is quite old. My specs...
C2D E8400 CPU
ASUS P5N32-E SLI nVidia nForce 680i chipset mobo
2 GB DDR2 RAM
Radeon HD4870 videocard
WD Raptor HDD
Creative Audigy Gamer soundcard
I can honestly say that Windows 8.1 installed without a single issue. nVidia decided not to add 8.1 support to it's nForce 680i chipset motherboard drivers, but Microsoft did. The only other driver speed bump was the old Audigy soundcard, but I installed the Win 7 version of the driver, and Win 8.1 recognized it just fine. And now I enjoy the great sounds of GSF, and Windows 8.1 runs fine without demanding any unrealistic or over-the-top hardware requirements.
So there is really no need to fear upgrading from Win XP. I waved the XP flag for years thinking it was just fine for what I needed it for. But XP's days are numbered, and I wouldn't be surprised if anyone that continues to run it without security support from Microsoft will probably have many more issues than from upgrading to a newer OS.