i am sorry but i do not know bcdedit, i used vistabootpro because i stumbled across if before bcdedit. If you download that it should make things easier, it actually used bcdedit in the background i believe.... but its graphical.
i think the problem is its trying to read your xp boot, and thats not gonna work. try vistabootpro and see if you can get it. you may have to "delete" the xp bootloadaer, and use the other... i think thats what i did when i had the same situation you had.