I guess I need to be a bit more verbose.
I figured that the $40 offer is just too hard to pass, so I decided that I'll get another license.
Upon completion of the DL there are 3 options: one is installing Win8 (I don't want that), another one is to create an ISO that I can burn to a DVD, and I can't remember the 3rd. (I can post another screenshot later)
Because this license is for a yet to be determined later use, I obviously want the ISO option, but it does not work as per attached image. For the time being I just ghost-ed the whole partition, so at worst I can go from Vista Business to Win8. I had to use Vista because I couldn't find my Win7 DVD.
I did some googling on that error, and sometimes it's a COM related error, so I'll try to apply SP1 and all updates to Vista -- that may just fix it.
But I should not need Imgburn or a DVD-writer (there's actually one in that machine) to accomplish the create ISO operation.
Wacky Races 2012!