I believe most of what you're saying is correct. The point of contention is the OEM license restriction. I understand your issue there, that you should be able to reuse the license you paid for. The opposing viewpoint is that you did not pay for a license, at least not a full one. Traditionally, the OEM license has been priced lower specifically because it is more restricted. You paid a fraction of the cost of a full license specifically because you were not paying for the ability to transfer the software to a new machine.

Maybe Microsoft will eventually do away with this restriction and just have one license. I think that would be a nice move.