An interesting tidbit I came across the other day when I was comparing Office 2007 versions was the the Home and Student release can be installed on multiple machines without having a separate license for each. For my own curiosity I looked this up and sure enough, according to the license agreement, 1.2.a reads:
Licensed Device. You may install one copy of the software on three licensed devices in your household for use by people who reside there. The software is not licensed for use in any commercial, non-profit, or revenue-generating business activities.
This actually makes really good sense from a real world usability standpoint because someone can legally install Office on their desktop, laptop/netbook and another machine they use without having to purchase additional copies. Additionally, if you have several people each with their own machine (living under one roof), you can legally install it on each machine.
Home and Student is very competitively priced and includes Word, Excel, Powerpoint and OneNote. When you break down the cost per machine, this is an incredibly good deal for what you get.

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