Hi Craig,
The license agreement calls for one desktop and one laptop
in retail versions of MS Office 2003 Standard, Small Business
or Professional. Although there are reports that MS may
not be always enforcing that one computer be a portable
during activation, it's not something that you could
necessarily counting on.
MS Office 2003 Basic edition and OEM versions of
the above editions are one computer only.
MS Office 2003 Student and Teachers Edition allows
it to be installed on a server and up to 3 'access devices'
to use it.
The text of each of End User License agreements
for each of retail the Office 2003 Editions and 2003 apps
is available here: