New
#11
It's long been considered without any actual confirmation from Microsoft, (officially), that most removable components are Ok to replace and Keep activation, with the exception of the motherboard.
This does not mean that when a motherboard is replaced that your key will be blacklisted or any other way of deactivating the licence, what it means is that you will need to talk to someone at Microsoft and explain the situation, if you can persuade the tech that you are replacing the Board due to circumstances beyond your control, (component failure, recall by the manufacturer, Etc), they are likely to either provide a replacement key or Clear your existing key for further use.
Deciding to upgrade so that your system is more up-to date is not an acceptable reason. also upgrading a system too often will also not be looked on favourably, and probably lead to deactivation.
Of course this procedure does not apply to Retail licences but only to OEM. Major OEM licenses and their use after replacement of components is not microsoft's concern, but Dell HP etc will have their own methods and rules - EG if you swap out a failed HP motherboard with a working HP motherboard the Key should work correctly but HP may need to confirm this when they supply the board. Fitting a retail board into an OEM system will almost always deactivate the licence