...capable...? can i still get windows vista on my computer through a installation. Do i have to wipe out my whole computer memory to install it or can i just regularly install it without erasing anything on my hardrive...

You can do it with the Retail or Upgrade version of Vista, but do you really want to go Vista ? few days or few weeks down the road, you will be back asking how do I go back to MCE

don't erase anything - just put vista dvd in dvd drive and it will be done without any problems
for any case (Moore's Law buddy) before you upgrade back-up yr programs