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The "Product Key" you have listed is in fact the Product ID, which determines whether you have a retail or OEM version of Windows.
If it is an OEM version your Product ID would read xxxxx-OEM-xxxxxxx-xxxxx.
Please delete the Product ID from your post to avoid complications when somebody "borrows" it to activate a dodgy copy of Windows.
You therefore most likely have a retail version of Windows whose licence can be transferred to another computer providing the software has been removed from the old computer.
Telephone activation should succeed without any difficulty.
This tutorial explains the procedure: Activate Windows 7 by Phone