Installing Ultimate Steal on more than one computer

I purchased the Ultimate Steal in spring 2008 and installed it on my laptop.
After reading the EULA, I am confused if I can also install it on my desktop
computer. I have the retail license and it indicates that I can install it on
one main (desktop) device and one portable device. Does "portable device"
mean a laptop? Or does it mean an external hard drive? Or is this kinda up
for self-definition? I will be uninstalling it from the laptop and
installing on the desktop; but can I then reinstall on the laptop (if it is
legal, otherwise I would just put Office 2003 back on laptop). Preferrably,
I would like to have Office 2007 on both my desktop and laptop.

The licence is for your desktop & laptop
Thank you DL for clarifying that for me. Those EULAs can be quite
confusing.

[ashn0tray]

I made a purchase on ultimate steal and the DVD kit. I tried to install by loading the program from the disk via upgrade and custom install, and in both cases, after installation, Windows Update will not work - am I doing something wrong with the installation? I have tried diagnostics and this tells me the Update Diagnostic is not working even though I have followed all the appropriate steps, so I cannot identify the problem. I have had to uninstall Ultimate