That will cost you another license of Windows XP you will have to purchase then according to Microsoft, according to the article over here.
11. Rather than purchase completely new PCs, my organization performs in-place upgrades to the hardware on many of our computers. We often times only replace the motherboard, processor, and memory. Since the COA is still on the case and the OS is still installed on the hard drive, this computer is still licensed, right?
ANSWER. Generally, you may upgrade or replace all of the hardware components on your computer and maintain the license for the original Microsoft OEM operating system software, with the exception of an upgrade or replacement of the motherboard. An upgrade of the motherboard is considered to result in a “new personal computer.” Microsoft OEM operating system software cannot be transferred from one computer to another. Therefore, if the motherboard is upgraded or replaced for reasons other than a defect then a new computer has been created, the original license expires, and a new full operating system license (not upgrade) is required. This is true even if the computer is covered under Software Assurance or other Volume License programs.
This is what happens when you force system activation to be keyed off of the various hardware pieces in a system I imagine. Of course, you can also just ignore Microsoft and use the same license on your system and I somehow doubt that Microsoft will be any the wiser. However I havent tested this theory yet so your mileage may vary.











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