So, you always can play in xp, I think, only if you choose in NBA Live 3Dsetup - Software Renderer. But you can run into a problem if you choose running a game with your graphics card as 3D engine. I had that problem myself, so if you have an ATI card you must do this (thanks to glennos) -
Go to your ATI catalyst control center,
go under 3D -> "More settings"
Disable DXT. (uncheck it)
*note= this option with DXT in ATI CCC is only available in 8.11 version or older... ATI didn't put that option in 8.12 CCC. Only they know why...idiots.
IF you don't have ATI card read this - viewtopic.php?f=15&t=49410&p=853777&hilit=graphics#p853777
Hope it helps.