ReactOS is something I've been watching closely for ages. Shows a lot of promise, but it's VERY far from being a replacement for the real MS Windows if you just expect "things to work". Even as a MS certified engineer, I'd love nothing more than to get away from the constant buying new copies for new machines/buying new Win versions for existing machines cycle.
As with most projects of this nature, I fear by the time they get it to a commonly usable point, no one will even remember what "Windows XP" is, and ReactOS strives to be a replacement for XP/2003. Windows 8 Developer Preview was released for download yesterday, after all - but it's still a ways off RTM format.
(The OP's thread is a bit misleading, albeit well intended. The ReactOS team didn't get funding, but a student/developer merely asked for financial support from Medvedev during his visit.)