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windows 7 in trial mode

I have an XP/Vista laptop that i want to upgrade to W7.
I've run the compatibility check on it and it's fine.
I'd like to put in a new disk (save the old in case my strategy fails), and install W7 for the 30-day period you get before you are forced to register, to make sure it's gonna work.
I have a W7 pro 64b DVD (from another machine's install i have)
If it works, then i'd buy the $140 OEM 1-pack W7 64b pro DVD& license.

My question is:
1. my recollection is that windows is fully functional during the grace period to authenticate? - surely the O/S would be functional enough to notice if something was incompatible?

2. is there any problem with using the installation "key" from the DVD that is already used to build my tower, but then buy the second license and use that serial number?

thanks

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niralbhavsar

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Lee W, MVP

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shjacks55

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willsherwood

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thanks all.
(both are OEM DVDs/licenses and co-purchases)
(laptop is 64b, not currently set up as dual boot, i had meant that it was capable(compatible) of running EITHER XP or Vista )