WHS isn't a workstation or a development environment, and VS isn't designed to be used on WHS. WHS is basically for serving shared media content in a home, along with some functions such as backup of workstations. As for XP, it's is a defunct OS in Microsoft terms. Sales were supposed to have been suspended already, and have been extended only for a relatively short period.
That said, minimum requirements are listed as minimums because it works at that level and above. It might or might not work with lower requirements, and you may or may not be happy with its performance. If you're satisfied, use it as you will. But don't blame Microsoft if something is too slow for you.
Jeff
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