I've got answers for your questions
<<1) as the computer boots, it gives you the option of selecting between 2 different OSs, both being Windows XP. Does that mean that I inadvertently created XP twice?>>
No, not necessarily. It means that the system may pick up your current install as a second, due to the way the boot.ini file works. There's a simple proecedure to correct the boot.ini...Removing the invalid entries from Boot.ini - http://windowsxp.mvps.org/bootopt.htm
A visual check of Windows will reveal if there really are two installs. If there are 2 Windows folders on the same partition...if there are 2 partitions in Disk Management reflecting system partitions...these will be obvious.
You should also try booting into the 2d install, to see what happens.
<<Is there a way to correct that?>>
Sure, once you tell us whether you truly have two installs...or if it was just a typical boot.ini requiring correction.
<<2) This may be moot if I get back down to one copy, but during the load it waits 30 seconds before selecting the default OS - is there a way to cut that down?>>
Yes, the time can be changed in the msconfig utility. Open msconfig, click on boot.ini tab. In the box (near middle of screen, right side) is a box indicating Timeout. It should currently reflect 30 seconds (the default, if users don't change it). Set it to what you like
. I always set mine to 5 seconds.