I have the £50 Windows 8 Pro Upgrade with CD. Is it perfectly legal to dual boot this with a copy of Windows 7?

Well, here are the licence terms from the horse's mouth. Decide for yourself or, if it is really important, ask a lawyer to interpret it for you. It seems pretty clear to me.
A definite "No" -- you can't legally dual boot an upgrade version of Windows 8. It would be a breach of the Microsoft licence conditions.
I heard from several other websites and forums and also a computing professional that it's OK. I also looked on the Microsoft website and it said nothing about it being illegal. I have the box version:
http://3.bp.blogspot.com/-QOxRFkX4f...It says nothing about upgrade only on the box.
Strictly speaking, it is not allowed under the licence. Here is an article that explains Windows 8 licensing, including that particular question - http://www.zdnet.com/how-the-new-wi... But that it is not in accord with the licensing conditions doesn't necessarily mean it is illegal, let alone criminal. Many licence terms are invalid in some countries. In particular many allow you to keep a copy of software as a backup, despite what licence terms may say.
In reality, you can do it and both OSs will remain activated (a different situation to trying to install on separate machines) which, I guess, means that Microsoft either can't tell or don't care. Morally - well, that's a moot point. Personally I would say that it's OK to keep the old copy long enough to ensure that you are happy with Windows 8. I suspect that in time you would find that you hardly ever use the old OS once you have everything running properly on 8 and would rather use the space than keep the old version.
Thanks for the article although now this is getting confusing. CNET and even a PC pro told me it was legal, the website doesn't say much and neither does the box while all the forums say illegal. I'm going to wait for a few more responses but it's starting to make me think it's illegal.
Do you really think the Microsoft police will come for you if you do a clean install using the Upgrade media rather than upgrading from a qualifying Windows version?
Well, here are the licence terms from the horse's mouth. Decide for yourself or, if it is really important, ask a lawyer to interpret it for you. It seems pretty clear to me.
Thanks for all your responses. I read the agreement ijack posted and it seems to me that dual booting would be illegal, although now I'm not sure if I have the upgrade or full. I might just contact Microsoft and find out for certain.
Well everyone I did it. I clicked install. I don't think it's installing on another partition but it might. It's at 30% at the moment. I'll have to update my spec when it's done. Thanks everyone for all the answers.
