I was skeptical of MS's product activation hassles when I finally got a legit copy of server 2003... We had to put it on not one, but TWO temp servers before moving to the final one.
We all know the horror stories of large company phone support... well, I called them twice for the reactivation (transferal of license) to a different machine. Longest phone call was 6 minutes, 3 seconds. That's not bad, my friends.
Not to mention, venki, if this is the same physical machine compared to the last time you activated it, you can activate again over the internet no hassles.