As the MSDN page shown by Martin the physical memory limit for 32-bit XP is given
as 4GB whereas in Memory and Address space limit it says that it can address only
2 GB and with IMAGE_FILE_LARGE_ADDRESS_AWARE and 4GT it can address 3GB.
If anyone can elaborate on the difference cos in the Memory and Address space
limit section it says in a 64-bit environment the limit is 4GB.