Heironious is a good and valued poster and may have difference expiences of trying than my own but as recently as three weeks back, I rerinstalled for a customer who's HDD had failed, and it fell over at the activation stage. It was a Packard Bell and Acer flatly refused to give me a code to modify BIOS that Microsoft wanted to let the new system go through.
I was told the hard disk should have been bought from them and not from my local trade counter.
For me, cloning is the safest option because it takes away the need to activate. There's nothing to lose going about it the other way - your original hard disk system will still work but you'll be left with an expensive SSD. At that stage, you can use my method if the other fails.