In practice they are. If for talking sake I use my Windows 7 license as the qualifying product for an upgrade to Windows 8, the Windows 7 license becomes null and void.
My laptop came with Win 7 HP. I upgraded to Win 8/8.1. Since then, I did a Win 7 install on an SSD, activated with a key from my TechNet account, then changed it to the Win 7 OEM key from the laptop, activated fine. I am anxious to see if it will upgrade to Win 10 when the time comes.
It will be interesting to see what happens bchat. At the moment though there are lots of questions which will not be answered until W10 goes RTM
I have the Win 7 SSD, 3 Win TP SSDs, and a Win 8.1 (originally MSDN key, upgraded to WMC, my key) - I may end up with 5 Win 10 installs, all tied to my desktop, or I may end up with 0 Win 10 installs and me all tied up...
The real question is if the people with the free WMC trick (before they fixed the keys!) will actually also pass the legit test. I installed WMC without Pro/KMS so there is no "professional" activation in the system at all, only the default+free WMC key without the data.dat trick as the pre-fix keys activate properly, if it valid for W10 cool if not.. no big deal
You'd better make an image of all the important file and applications on C drive. If something goes wrong, you can then restore the image to the new system. Generally speaking, software will work on win 10. For backup software you can try easeus free todo backup or macrium reflect.