Win 7 + 8
Yes, I think I have it. Technically, I should have either Win 7 or 8 but not both as I only paid full price for the one that came preinstalled in my computer.
I os per one license.
I will try to use Win 8 in my desktop and keep Win 7 in my laptop until i can fully transition.
Thank you once again.
P.S. It may interest you to know that I am in correspondence with friends across the pond and they maybe not aware of the legality but there are dual booting 7+ 8 and say they have no issues. I am not advocating mind you, just commenting as they advised me to do it. That is why I was looking into doing it before you advised me.
I am happy with the results here.