It is a good possibility but I suggest that if you want to format multiple computers only and not install software(windows) , then it will be goo to download a free software and burn several cds and then put them all at the same time. Here is a link to a free software to format:
http://www.killdisk.com/Ot
herwise if you want to install several computers with windows xp and you have the proper licenses for all I suggest installing the RIS server from windows server 2003. From the add+remove programs, go to windows components and add the Remote Installation Services, That will allow you to deploy different computers from one centralized location. Your network cards should be a PXE compatible. Here is a good start.
http://www.computerperformance.co.uk/w2k3/W2K3_RIS.htm
Good luck formatting.