ingtar33 :
yes. you can, however, the only "main" difference between an OEM version and a normal version is an OEM version gives you just ONE install. if you replace your motherboard it will treat your system as a new system and stop working.
You can install it as many times as you want without issue, once installed and activated, what you can't do is install on "substantially different hardware". I have replaced failed motherboards and CPUs on numepus occasions and the reinstall re-activated without issue.
In 3 instances with failed 1156 boards, replacing the 1156 MoBo with 1155 board (as no 1156 boards were still on sale, required a CPU replacement also. All 3 went smooth as silk, no activation issues.
This was clearly spelled out in numerous articles when MS started this with windows XP
http://www.helpwithwindows.com/WindowsXP/activation.html
https://technet.microsoft.com/en-us/library/bb457054.aspx
Tho it has no doubt changes somewhat since that time, it still works...the following quote is from above MS link
Scenario A:
PC One has the full assortment of hardware components listed in Table 1 above. User swaps the motherboard and CPU chip for an upgraded one, swaps the video adapter, adds a second hard drive for additional storage, doubles the amount of RAM, and swaps the CD ROM drive for a faster one.
Result: Reactivation is NOT required.
I'm buying off the shelf parts from various parts makers and cobbling together a computer... So you're saying that I can definitely build a computer and use an OEM Windows 7 disk?
I have build many Windows Machines over the past 23 years and have never used anything but OEM since they became available.
As I'm building the computer, myself, if the motherboard turns out to be defective, will I be hosed? I'm assuming I'm hosed, in this scenario.
No, see above.... you're fine. If the original media is legit, you can reuse it as many times as you like forever .... well at least till January 14, 2020.