You shouldn't have any compatibility issues, but technically it's not legal to install the software on more machines than you have liscences for. If you buy the student and teacher edition of office, you are given three liscences :lol:
I know no legal way of obtaining a product key (aside from calling microsoft) for a peice of software that isn't already installed on your computer. If, however, office is already installed on one computer, I'm sure the key is obtainable through the registry.

Thanks or the quick reply I really appreciate it. I guess I'll just use the old software on he new pc and scrap the old one. I was thinking that if both 'workstations" weren't used at the same time, it might be ok. Although this is for home use so I guess I better go with plan "A" Thanks again!

You can download KeyFinder from Magic Jellybean which will tell you what your product keys are for Windows and Microsoft Office

http://www.magicaljellybean.com/keyfinder.shtml

*bookmarks* in FireFox!