I don't think that it's too hard to learn. At the same time, Windows is also not too hard to learn, but you've been working with it for many years, so it's going to feel much harder, as not much Windows experience is going to carry over.
You may or may not have to reformat your hard drive. Generally, you install Linux on a separate partition on your hard drive, but your XP installation most likely takes up the entire drive. It might be possible to get a new hard drive and install Linux on there, avoiding your XP installation altogether, depending on a few factors. There are also one or two Linux distributions that can sit on top of a Windows installation (though I think they require a FAT filesystem), Monkey Linux being one of them, IIRC.
Linux is based on an operating system that has been in existence for thirty years, and, as such, is remarkably stable. It is not uncommon for Linux boxes to remain running for years on end. And Linux is probably the least stable Unix in existence. Another is the fact that it's open source, and I mean this in more than just the fact that you can read the source code. The processes involved are also open. For example, most people with a solid knowledge of Unix could tell you everything about how the print system works, because all of the components are available to be seen. I don't know anyone besides software developers that specialize in print services that could even begin to explain how Windows printing works.
The main disadvantages of Linux are the lack of an expansive software catalog, the difficulty of learning a different operating system, and the largely non-user friendly nature of the current distributions. There's also a minor drawback in some small holes in hardware support.
Not all hardware is compatible with Linux, but probably 98% is. A notable exception these days is with so-called ``WinModems''. While there has been some support popping up, it's a little thin. And there are a lot of USB and FireWire peripherals that you'll have trouble with. But you should have no trouble with getting a computer running at all.
The lack of productivity software (and games) is probably the biggest drawback to Linux. And when I say ``productivity software'', I mostly mean MS Office. It's amazing how pervasive MS Office is. Then again, there has been some good progress in that area, in the form of StarOffice/OpenOffice.org, KOffice, and AbiWord. It's not as big a deal as it once was, but I still refuse Word docs in emails.
There are a lot of programs available for Linux on the Internet, but they are not the same as the Windows programs. There's probably much more software that's available totally free of charge. Games are not as plentiful as in Windows, but everything else is probably more so.
Hope that helps.
_________________________
Bitt Faulk