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To be sure, I have read the EULAs, many times over, and no, I am not wrong.
But I hear you and there no disagreement over the second part of your reply concerning replacing any part "except the motherboard.
But note your first part does not address dual-boot scenarios and that is the issue and exception here. And sadly, Microsoft does not make it clear either, except to say that dual-boot systems MUST have separate licenses for each OS. But they don't say if OEM or not.
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