Microsoft had done something very stupid.   It called the windows genuine advantage. It is to make sure you have a legal copy of the software.  There has been discussion in the xp newsgroups on how it not working with legally purchased preinstalled computers.  There also has been reports that it will not work on legally purchase cd that contain the windows xp operating system.  What even worse it is validating pirated copies according to some reports.

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If a BIOS-locked system is installed to a board where the lock fails, it enters a normal Activation process at startup. However, beginning 1 March 2005, the Product Key supplied on a label by the computer manufacturer, and used for the initial installation, will not be accepted for activation. A new copy of Windows XP, with a license allowing installation on a different machine, will be needed. This means that any replacement motherboard (or upgrade to its BIOS) must be supplied by the original maker, who will ensure the lock is maintained.

My comment

If the above is the case.  The image key and the key listed on your machine won't be able to reactivate.    Another problem is if you do a repair or clean install using those keys you won't be able to activate it.   (A clean install using either of those keys may not need to be activated but you may have problems with windows genuine advantage)

However, there is a legal work around that does cost more.  Buy an legal oem version of xp sp2 Since, most preinstalled system are oems.   You should be able to change the key and activate without any problems on most systems.