So, you was lucky enough to get hold of a Vista VLK disk and want to install and activate it ?
What Is a Volume License Key?
A Volume License Key (VLK) is a product key that you use to install specific licensed products.
This VLK is issued to your company for the company's exclusive use for each specific license purchased.
VLKs must be used with the appropriate Volume Licensing media.
You agree to keep a secure record of this product key and to not disclose it to any unauthorized third party.
Microsoft includes product activation technology in some products that are sold through
original equipment manufacturer (OEM), retail, and Volume Licensing channels.
The Windows Vista operating system will require Volume Licensing customers to use a new type of activation, called Volume Activation.
Volume Activation is a flexible solution that enables Volume Licensing customers to more securely and easily activate computers that are running Windows Vista.
In the future, Volume Activation technology will be used for all Microsoft products, but it is being introduced in Windows Vista.
Volume Activation 1.0 (VA 1.0)
Volume Activation 1.0 is the first generation of Volume License Keys (VLKs).
These keys bypass product activation.
The 2007 Microsoft Office system will continue to use product keys that bypass product activation.
Volume Activation 2.0 (VA 2.0)
Beginning with Windows Vista, there will be two types of Volume License Keys:
Multiple Activation Keys and
Key Management Service.
Multiple Activation Key
The Multiple Activation Key (MAK) activates either individual computers or a group of computers by connecting
directly to Microsoft servers over the Internet or by telephone.
The keys can be used a limited number of times. This activation limit can be increased by calling your Microsoft Activation Center.
There are two ways to activate a computer using a
MAK:
Proxy Activation:
With Proxy Activation, multiple computers are activated at the same time by using a single connection to Microsoft.
Proxy Activation is the most similar to the Volume Activation 1.0 that customers have been using up to now.
Independent Activation:
Each computer connects to Microsoft servers and is activated individually.
Key Management Service
Your organization can host the Key Management Service (KMS) internally to automatically activate computers running Windows Vista.
To use the KMS, you must have a minimum of 25 computers running Windows Vista that are connected together.
Computers that have been activated through KMS will be required to reactivate by connecting
to your organization's network at least every six months.
Currently the KMS software runs on a local computer running Windows Vista or the Microsoft Windows Server
Code Name "Longhorn" operating system. In the future, it will run on the Microsoft Windows Server 2003 operating system.
More info can be found here :
Windows Vista Volume Activation 2.0 Step-By-Step Guide