Far as I know, you can only change the CD key when you activate or reactivate. Simply editing a registry entry isn't enough, because you can run into problems with the product activation code.
Could you clarify what you're trying to do here please? Is the copy you have OEM, or the copy you're purchasing?
Why do you want to change the CD key at this point in time? (If you're making an illicit installation legit, don't be afraid to say so, because that's a perfectly permissible discussion.)
The CD-key issue will only be a problem when activating, but it CAN be changed successfully.
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Grandad
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since Mar 2004