I recently downloaded the pre-configured SharePoint 2007 VHD, which was published on May 3, 2010 (version 3.0) at this link. The total download size of parts 1 to 20 was around 13.3GB. When this was extracted, it created Image014-7.vhd file of size 26 GB. (now you may know why you don’t get a new <300GB disks for purchase). I could run the VHD using the Hyper-V on Windows 2008 R2 server. For the first time, when I started this pre-configured VHD, it was a big relief to see the expiry date as February 22, 2011.

By the way, this VHD even comes with pre-configured SMTP/POP servers. So you have a email-ready setup to learn SharePoint.
After spending 2 days of time on this evaluation VHD, today I wanted to try some Workflows. On my SharePoint List, I choosed Settings -> List Settings -> Permissions and Management section -> Workflow settings option. I selected the out of box “Approval” workflow, and typed a unique name for this workflow. Now, when I clicked the Next button, I was surprised to see “The trial period for this product has expired” error:

Surprisingly, there was no such errors getting logged into the ULS Logs of 12 hive. It was time to check the current SharePoint 2007 product version. In the Central Administration, when I navigated to Operations -> Upgrade and Migration section -> Convert license type link, it indicated me that my current License is for “Office SharePoint Server Trial with Enterprise Client Access License“.
It was time to correct a common mistake, which most Techies do – “Have you read the Readme today?”. I went back to the download link and reviewed the WIN03_MOSS_README.htm file. This gave me another shock:
Program Details
The evaluation period for this virtual machine image ends @ 2/22/2011. NO EFFORT SHOULD BE MADE TO ACTIVATE THIS IMAGE. After 2/10/2010, the evaluation period is over and the image should be discarded.
So, whats the game of these two dates? Well, I guess its nothing but a documentation bug. Here is how I can prove this. After some more Googling, I came across Update for 2007 Microsoft Office servers (KB971620), which saved all my effort. Here are the direct links to download the Update patch:
Update for 2007 Microsoft Office servers (KB971620), 32-Bit Edition
Update for 2007 Microsoft Office servers (KB971620), 64-Bit Edition
It is highly recommended to read the complete KB article 971620 and 95334 on Microsoft Website, before installing this patch. As my VHD was for 32-bit edition of SharePoint 2007, I downloaded the 32-bit patch (office2007-kb971620-fullfile-x86-glb.exe) which is about 3.26MB. The patch installation was very short and simple. Please note that at the end, it prompts to reboot your server:

After restarting my server, I didn’t get “The trial period for this product has expired” error while creating a Workflow. Now it was time to double confirm the License Type. This time, in the Central Administration, when I navigated to Operations -> Upgrade and Migration section -> Convert license type link, it indicated me that my current License is for “Office SharePoint Server with Enterprise Client Access License“.
Once gain, I would request you to read the KB articles on Microsoft Site before making any changes to your environment.