I’m told that one can get updates for XP, there’s some method of convincing Microsoft that your XP is running an ATM, for that application the updates continue uninterrupted.
That's true. You can pay Microsoft a hefty fee, or you can be one of their Very Special Customers, or you can convince them that you're an ATM.
Now think. First, unless your XP instance is embedded in, say, an industrial tool from an out-of-business manufacturer, and you have the option of running it without an Internet connection (for safety), why in the world would you want to do that? Windows 7 is a much better OS, and done properly, switching to it from XP is relatively painless. (Windows 8 is another screwed-the-pooch, we won't talk about that.)
Second, the 20% of users who are still running XP are STILL ON THE INTERNET -- the surveys that check what OS people are using are done over the Internet. So that 20% DOES NOT count the embedded, off-line instances. Who knows how many of those there are?
I do not believe it is prudent to continue using XP, and we're way past the point where I feel comfortable encouraging anyone, especially FReepers whom I consider my friends, to continue using XP, especially if they're getting on the Internet.
So while what you say is true, I consider it bad advice to follow that path.
I kind of doubt that Microsoft would be coming out with a patch for Internet Explorer for an ATM. Kinda hard to picture an ATM freely browsing the internet.
Incorrect, at least from Microsoft. Microsoft will not provide support for XP, period. They might recommend some third-party support vendors who can patch the operating system for you, but Microsoft no longer handles patching for their operating systems.
Further, with this particular vulnerability, XP can not be patched due to the changes needing to be made. The changes to the operating system required to make XP secure would irreparably break XP due to the way XP's kernel worked.