You've wandered into a very grey area with your question. I think it could be argued both ways. You PAID for a license. You have a reciept to prove that. You may also have the Microsoft book with the license sticker on it. That certifies that you have the license. If you read the license agreement, you may not transfer the license to anyone unless they agree to abide by the EULA terms.
Under that assumtion, you still own the license.
On the otherhand, answer 1 is correct. The license may only apply to that machine. Further, if your company burned down, yet you could prove that you owned the license, it's doubtful that either Compaq or Microsoft would give you new media disks. Their response would be to buy new software.
The third point is that all software companies view license agreements differently, so no one standard applies.
You may want to consult an attorney, but 3 attorneys would give you 3 different answers. So what do you do?
I think you have to view it in worst caseterms. If you continue to use the licenseand MS finds out , what are they going to do? Prosecute you? You can make a valid case that you own the licenses. At that point, you would just say igoofed and buy the new licenses. After all, you are not trying to pirate the software. You can prove that you did pay for it.
Hope that helps.
