If you have never run the create ERD process on the target machine, running ERD is of no benefit.
Because under Win2k (as opposed to NT) very little information is actually stored on the ERD disk itself, you likely can use another machine's ERD. But the ERD creation process creates backup of your registry hives in a special folder of your hard disk drive. If the ERD creation was never run, there is nothing for the ERD restore process to work with.