Technically, the OEM license is tied to the mobo (and/or mobo/CPU combination) - so you may be required to purchase a new license. HOWEVER - if your motherboard dies, and the mobo/CPU is a replacement (due to malfunctioning hardware), Microsoft may allow the installation (you will probably have to do a phone activation of the system.
The only thing Windows won't do is show that the copy of Windows is activated (right click "my computer" and choose "properties" - at the bottom of the screen is Windows activation). It will either say that Windows is activated, or it will tell you how many days you have to activate Windows (typically you have 30 days to activate Windows).
It sounds like you have a driver issue - not an activation...