windows 7 upgrade

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Does the student version of Windows 7 upgrade allow me to move the install to another computer if I ever switch computers? I heard the retail version allows that but was curious if this is considered an OEM that stays with the comp, or allows a transfer of the license.
 
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I have the Windows 7 that MS sells to students for $30. I've reformatted numerous times due to new hardware (this last time I completely rebuilt my PC) and have never had a problem.
 
Can I boot from the install disk to do the clean install or do I need to boot XP like regular and run the disc from there first?
 
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