Pre-online registration, there were several different kinds of windows licenses. The 3 main were 3rd party OEM (Dell, HP etc), pc and user. 3rd party OEM is tied to the bios through the service number, so you could change everything except the motherboard and have windows legally. Change mobo's and you called Dell for a fix.
The second, most common license was pc, which was retail, but again tied to the mobo, the biggest difference was upon installing a new mobo, simply required a full reinstall of windows and reapplication of the key that came on the book.
The third was user. This license wasn't tied to the pc, but the user. You could use this key on any matching OS and the number was stored in windows itself. So you could change...