If you were to put the image on a different computer, yes you may run into having to relicense your software. But as long as it is the same machine everything on the imaged partition will be just as it was when you made the image.
You can even put it on a different partition or hard drive. It may take a little editing of the boot.ini file, but it will be fine.
I can take the last image I made two days ago, restore it, and any changes I have made, or say a virus has made, will be gone and everything will be set up just like it was when I made the image. Even my desktop icons will be the same.
Since I have been doing this for awhile and getting things just the way I like them, I can restore an image from a DVD and be back up and running like nothing happened in about 20 minutes. In about ten minutes or less if I use an image stored on one of my hard drives.
8 Pro 64bit
AMD FX 8350
Asus Sabertooth 990FX R2.0
24GB GSkill/Corsair 1866MHz
2x XFX 6870 1GB
SSD - OCZ V4 128GB/Kingston 120GB
HDD - 3TB/2x 750GB/500GB/250GB
Cooler Master HAF 932 Red
CM Hyper 212 EVO w/2x SickleFlow 120mm Red
Logitech X540 5.1 Surround
2X Acer 23" LED - Eyefinity: 3840x1080
Microsoft Sidewinder x4 KB
"The significant problems we face cannot be solved at the same level of thinking we were at when we created them."
- Albert Einstein