I'm using the Corporate Version myself so I know the system well. It cost's a small fortune, plus it has certain stipulations, making it unpracticle/impossible for our friend here. ...If you 'find' it on the web it's warez, which our freind didn't want.
I did say *some* OEM versions... and Iiyama make PCs? I thought they only did monitors... Woah, that's hardcore :smt023 I thought 2k was bad enough on my celeron 366, and that had half a gig of RAM!
the thing without no password and no installation limit is true. however, the last part can be interpretated with different angles.:-D
You are on about volume licence builds, they do have a product key built in, so they can be monitored, they just don't need activation. Using a copy you don't have a licence for is the same as downloading a copy off the internet and using a keygen.
I've installed XP on a P2 233, with 64MB RAM. That was fun! It did actually run reasonably well, with practically everything pretty turned off.