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I think the "key card" is only to activate the pre-installed office on a new computer: http://office.microsoft.com/en-us/buy/product-key-card-FX101850744.aspx

I would go with the download option. However, with either version, it seems they are not allowing you to transfer it or install on more than one PC. If you buy it, install it on a PC and that PC dies, you are stuck! I wonder how Open Office is doing these days (or maybe http://www.libreoffice.org/ )





It was announced that microsoft is backing off of the original machine only rule. If your pc dies it looks like you can transfer the license.