Thanks Andre,
Just to clarify on what needs to be licensed. Are you referring to the VM OS (Win7) correct?
I don't mind if I have to install each VM for the first time, but I foresee that I may need to 're-image' each VM (not the host) every so often and looking for ways to minimize task loading on such events. Replacing a backup (with a licensed Win7) for each VM would be ideal.
Also, is there a way to have the VM reboot, like every 24-48hrs? I'm worried that my tests may have memory leakage. Would this action be handled by the host, or each VM?