Seeking Windows 7 CD key help

Hello! I am a new PC Builder. I have an hp g60 laptop that is running windows 7 home premium sp1. The original version of windows on that hp g60 is vista. If I system restore that laptop back down to vista, could i use that windows 7 product key on my new build? Keep in mind that the upgrade disc hp sent me was a upgrade disc for vista home premium to windows 7 home premium. My friend also recently built his pc and he has an oem windows 7 sp1. If I use his disc to install windows on my system, can i still use that windows 7 cd key from my hp g60 to install windows?
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  1. OEM versions of Vista and Windows 7 are identical to Full License Retail versions except for the following:

    - OEM versions do not offer any free Microsoft direct support from Microsoft support personnel

    - OEM licenses are tied to the very first computer you install and activate it on

    - OEM versions allow all hardware upgrades except for an upgrade to a different model motherboard

    - OEM versions cannot be used to directly upgrade from an older Windows operating system ^
  2. Branded OEM keys {Dell,HP,Sony,etc.} can't be transferred to a new build.
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