Well i don't know about what version of IE will you get, but one thing is sure, if you slipstreamed it in a pir@ted SP2 CD, it will break the crack. So if using pirated, better not integrate it into the existing SP2 integrated CD.
Here is something from the document :-
As in Windows Server 2003 SP2 and Windows Vista, users can now complete operating system installation without providing a product key during a full, integrated installation of Windows XP SP3. The operating system will prompt the user for a product key later as part of Genuine Advantage. As with previous service packs, no product key is requested or required when installing Windows XP SP3 using the update package available through Microsoft Update.
Note :The Windows Product Activation changes in Windows XP SP3 are not related to the Windows Vista Key Management Service (KMS). This update affects only new operating system installations from integrated source media. This update affects the installation media only and is not a change to how activation works in Windows XP.
Microsoft sabhi ka equally khayal rakhti hai, hai na