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Vista licensing re worded!

BACKUP COPY. You may make one backup copy of the media. You may use it only to reinstall the software.

Software Other than Windows Anytime Upgrade. You may uninstall the software and install it on another device for your use. You may not do so to share this license between devices.

Software Other Than Windows Anytime Upgrade. The first user of the software may make a one time transfer of the software, and this agreement, directly to a third party. The first
user must uninstall the software before transferring it separately from the device. The first user may not retain any copies.
Click to expand...

So you can make a copy of the disc, you can reinstall it as necessary, and you can also sell it second hand all without any issues. (All C&P from the Home Premium licensing terms (PDF))
 
This was one of the major reasons I was worried about Vista. Now that its settled I may pick it up in the next 2 years.
 
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