Hi MAJOR3058. I can answer most of your questions but you will have to run the Upgrade Advisor on your computer to answer your last question.
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Can I use it on more than one PC? I have a netbook, laptop and desktop.
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No. You may upgrade only one eligible operating system. See
here and
here.
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Can I make a copy of it? Is it even copiable?
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Yes, you may make one backup copy but it can only be used on the computer you have installed the upgrade on.
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Does installing it completely wipe your hard drive beforehand?
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Provided you have an eligible operating system, your files, settings, programs should be fine however it is always a wise move to backup any important data to removable media beforehand. Please refer to the link to the upgrade chart that I posted in your first question for the list of Operating Systems that can be upgraded.
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Does it have to be registered before use?
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Not immediately but it would be in your interest to do so as you will not be able to download important updates until you do. There is a 30 day grace period.
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Could there be any compatibility issues?
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I dont know. You will have to run the the Windows 7 Upgrade Advisor. See
here.