I just bought the above direct from Amazon for my iMac 24 inch, early 2009 running VMware Fusion 5.0.4 which currently runs XP. Please help me: the packaging looks a bit cheap (but cost 60 pounds anyway) and I fear I may have ended up with some sort of OEM product, or whatever, that might not work for me a simple, humble user. As you'll have guessed I'm a bit clueless in this area which is why I'm asking this question. Many thanks in advance.
PS. I partially obliterated the serial numbers in the image as I believe this is what should be done before posting this sort of thing.
PPS. I'm going for Win 7 as that's what I have on my MacBook Pro - which I frequently use at the same time.
Accepted Solutions
It's an OEM version, therefore a full installable version of Windows 7. Whether or not you're legally entitled to use an OEM version you'd have to read the Microsoft OEM System Builder EULA. Off the top of my head I'd say you're not entitled however I haven't read the EULA lately and the chances of actually getting a Retail version of Windows 7 is probably slim. If you're not an OEM System Builder and you do choose to use the OEM version you will get zero support from Microsoft as it's the OEM's responsibility to support the install and that would be you, if you so choose! 
Also you might want to keep a copy of Windows XP as you never know when it might come in handy.
BTW when backing up Virtual Machines make sure you make proper* backups!
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* It is a known fact that Time Machine is not 100% reliable backing up/restoring Virtual Machines under all circumstances/conditions. Also backing up Virtual Machines via Time Machine is disk/time intensive and wastes a tremendous amount of space for something that may be corrupt and worthless come time to restore it. At a minimum I would exclude Virtual Machines from Time Machine and with the Virtual Machines shutdown, not suspended, and VMware Fusion closed then manually copy the Virtual Machines Package(s) to an alternate location, preferably on to a different physical hard disk. Then keep the User Data that is stored within the Virtual Machine backed up off of the Virtual Machine on a regular basis so as to always have a current User Data Backup. If you have to restore a properly backed up Virtual Machine that is not as current at least you'll have a working Virtual Machine and current User Data to go forward with when you find out your Time Machine Backup of the Virtual Machine fails.
Also have a look at: Best Practices for virtual machine backup (programs and data) in VMware Fusion (1013628)
It's an OEM version, therefore a full installable version of Windows 7. Whether or not you're legally entitled to use an OEM version you'd have to read the Microsoft OEM System Builder EULA. Off the top of my head I'd say you're not entitled however I haven't read the EULA lately and the chances of actually getting a Retail version of Windows 7 is probably slim. If you're not an OEM System Builder and you do choose to use the OEM version you will get zero support from Microsoft as it's the OEM's responsibility to support the install and that would be you, if you so choose!
Also you might want to keep a copy of Windows XP as you never know when it might come in handy.
BTW when backing up Virtual Machines make sure you make proper* backups!
==========
* It is a known fact that Time Machine is not 100% reliable backing up/restoring Virtual Machines under all circumstances/conditions. Also backing up Virtual Machines via Time Machine is disk/time intensive and wastes a tremendous amount of space for something that may be corrupt and worthless come time to restore it. At a minimum I would exclude Virtual Machines from Time Machine and with the Virtual Machines shutdown, not suspended, and VMware Fusion closed then manually copy the Virtual Machines Package(s) to an alternate location, preferably on to a different physical hard disk. Then keep the User Data that is stored within the Virtual Machine backed up off of the Virtual Machine on a regular basis so as to always have a current User Data Backup. If you have to restore a properly backed up Virtual Machine that is not as current at least you'll have a working Virtual Machine and current User Data to go forward with when you find out your Time Machine Backup of the Virtual Machine fails.
Also have a look at: Best Practices for virtual machine backup (programs and data) in VMware Fusion (1013628)