Shouldn't be a problem. Even if you have to re-activate - it can usually be done over the internet. With re-formating my hard drive and making changes to my system I must have re-activated about 10 times since last year. Never had a problem.
There is not a single part of the PC left that i originaly installed XP on to, i did however have to ring uncle Bill up at one point as XP said no chance but after i explained i was a serial upgrader they gave me an unlock code.
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