Hard to know if it will work. But all I can say is that whenever I have had problems with Windows Genuine and Keys I call the number it gives you when you try to Activate it and choose Phone Activation. You choose your location and it gives you 24/7 phone numbers to call. Its not fool proof but MS is fairly flexible with activation if you are willing to go through the process.
Silver
I'm reading that this won't come with support so I don't know if I'll be able to call them?
It will work, but as you read right, the tech support for windows will not be available to you unless you pay MS. These are usually only licenses that are used by people who build their own PC or stores that build systems to sell to costumers, the store should be the one then you should talk to if you need support.
Got it to work! In boot camp and Parallels.
When I set it up in parallels I used my boot camp partition. It said that I'd have to activate Windows again. Does that mean I can only use this version of Windows on either Parallels or Boot camp? I'm using an OEM System Builder Pack of W7 and I think that's supposed to be only installed on one machine and I read that using VM's like Parallels makes it seem like I'm using another machine.