Using 'Program files' from previous installation

After doing a clean installation of XP, I am thinking of recovering and installing the contents of the backed up 'Program Files' folder from the the previous installation. Is there any reason why I should not do this? The idea is the convenience of not having to download all the software again.
 
programs do not transfer, but must be completely reinstalled. If you create an image then the programs will be installed but on a clean install no. Transferring the programs folder will do nothing as there are no registry entries or whatever else it needs to work
 
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