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New Visual Studio MSDN Download or Product Key?

I renew our MSDN subscription and have a couple questions concerning software options. Its been a few years since our old subscription expired. Anyway...

Q. I see only one product key beside Visual Studio 2010 Pro,  can it be used for multiple installs on different computers?

Q. I read that downloads don't require a product key, are there any limits to installations?

Q. Any difference between downloads and trial downloads like features, etc?

Q. Should I uninstall my Visual Studio 2012 RC or use key?

Any other info you can add would be a big help...
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gt2847c
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Cool, here's somthing interesting.

1 I downloaded MSDN Windows server 2012 Std (says no product key needed), yet it asks for a key or the install will not continue.

2. I installed MSDN Windows server 2012 Std with MSDN product key everything seem to install nicely, but the OS will not boot.
    - I have a dell inspiron 545S with sata drive.
    - Only one partition
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thx