If you re-install Office on the same system then it does not count as a
different installation. So assuming you have done all the backups and
you have got the serial number and related CD, you can go ahead with no
problems. As far as activation is concerend, If the office package is
RETAIL packaged version (the one you buy from your local store or
Amazons or other online vendors) then t should activate it automatically
if the last time you activated was more than 120 days. Otherwise, you
will need to phone Microsoft for the activation code. You can install
this version of Office on TWO systems. If the nachine dies, you can buy
a new one and still install the same office on this new one and explain
to MS what has happened. Normally no problems unless you keep buying
new systems every other month in which case you may be in trouble!!
If the product is OEM - the one that comes with a new computer/laptop -
then you will always need to use the telephone method to activate. You
can only install this on the same very machine it came with. If the
computer dies then so does the license. So only ONE installation
allowed i.e. the same machine!!
If you have Teachers and Students version of Office 2003 then you can
install on upto THREE computers withing the same household. again, the
acivation is normally automatic unless it is within the same 120 days
time period in which case you will need to spend about 6 minutes on the
telephone to get a new code.
hth