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Well tehcnically OEM only need to be sold with hardware, it was never registered with that dell and dell wouldn't sell me a system with no OS at that time, so I would bet MS would be hard pressed to get me on anything, it was installed on one computer only and registered to that computer (so what if it wasn't the system it came bundled with.

The with hardware caluse has been expanded now. It now covers HDs or motherboards. Other hardware is exempt. Used to be that you could buy a $2 mouse and call that your hardware purchase to get a cheaper copy of Windows

There is nothing stopping you from using the Dell WinME license but it's still not legal. The OEM copy you've got came with the Dell hardware and thats what you're supposed to use it with. It's non transferrable. That's just the terms of how Microsoft license their OEM copies.

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Win 2000 on the same system was 59 seconds.