|It won't work. You cannot "clone" installed programs from one operating system to another nor can you import registry from one operating system to another.|
If you set bios to boot the SATA drive first you should be able to use windows explorer to copy/paste whatever files/documents etc from the old drive to new one but you absolutely must reinstal programs.
As for "removing XP" from the original drive, wait until you have transferred everything you need from that drive to the new one and then format the old disk. If it is still physically ok just use it for extra storage.
If some of the things you want to transfer from the old drive include things like game high scores/saves/settings etc then the way to do this is to instal the game in the new operating system, then copy/paste over the new game folder with the old one.
You might also look at using files & settings transfer wizard. Boot up the old drive. Use it to copy such things as email & internet settings, addressbooks and saved favourites . Copy them to an external medium such as CD or flashdrive then boot up MCE and import those things from the CD/flash drive.
Good luck with it. Hope it all works out for you.
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