Certainly CS2 will run on Vista. I installed it on my new notebook( My birthday present) with Vista and it works great including all my plugins. Adobe allows 2 installations and activations as long as you are not using both at the same time.
Illustrator and Acrobat should run equally well under Vista. I have Quicken 2001 on the notebook also with no hiccups.
If you are going to remove it from the XP machine, you should deactivate it to free up an activation.
P.S. Say Hi to Grace for me.