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licensing in server 2008 hypervisor

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licensing in server 2008 hypervisor

ooliya
After spending hours reading information on virtual licensing i am still confused. here is the scenario. one physical server that will host 4 virtual servers in it. VM1 would be server 2008 enterprise 64 bit, VM2 would be server 2008 standard 32 bit, VM3 is another server 2008 standard 32 bit, VM4 is server 2003 standard 32 bit. how many licences i will need if my host OS is server 2008 enterprise with hyper-v. Can i install the guest OS from any cd,dvd i have on hand and it will be automatically activated if i have already activated the host OS (server 08 enterprise) or will it prompt me to give it a key for host os? can i install server 2003 as a guest vm from my microsoft action pack dvd and it will be activated without a key? please guide me i need to move my servers to virtual ones asap. thanking you in advance.