Question regarding XP Standby mode

Say I wanted to put my computer in standby or hibernation mode (not quite sure about either of these since i've never used them) while keeping an application running a task (i.e. keep internet explorer open to download a file overnight), could this be done?

I would like to keep running tasks overnight but I'd like to conserve some power as well, not sure if this is possible or not.

 

Tasks are paused when in standby.

The computer is powered down in hibernation.

In short, no.

 

Best you can do while running apps overnight would be to leave the power management settings to "always on", but to turn off the monitor after, oh, say, 20 minutes. Monitor draws a fair amount of power, and letting that shut down automatically will save some kilowatts over time. And is better for the monitor than a screensaver, and doesn't take up any cpu cycles like a screensaver does.