Sorry Waffle you are close but not quite there. OEM is tied to that machine. Period. No reinstalls if you change hardware, no removing it from that machine and installing it on another. It stays with the mother board and dies with it. That is the true OEM EULA agreement.
Only Retail can you transfer it. They way they prevent you from using it again, it wont activate and you have to call them and explain to them why. While you can lie, you are technically using the software illegally at that point.