At the moment I have Windows 7 Home Premium 64-bit OEM and have it activated on a shitty 775-socket Motherboard and Processor (E7500 if it matters). I'm interested in upgrading CPU and Motherboard at some point, but I do not want to buy Windows 7 Home Premium non-OEM for >$200AUD (really), or wait for Windows 8.
I can apply for a student license and buy a Windows 7 Professional upgrade for $100AUD. However, does this remove the OEM restriction? (OEM restriction for those who don't know means that your Windows installation is locked onto the single model of your Motherboard). I can get a good deal on an AM3 Motherboard and CPU but I simply do not want to spend more than $100AUD to get a working (and legit) Windows 7 on a new Motherboard.
Thanks in advance.

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