Yes, definitely transfer you license before you reformat - Write it down, then when you re-install your easypano product you will not have any trouble. - If you open tourweaver/panoweaver, and click on "help" at the top then choose "transfer license" it will walk you through it - In fact it states that one reason to do that is if you are upgrading you computer.

Hope this helps, just don't forget to write down your serial number (it will give this to you when you transfer out through the software).

You may want to send a quick email to Easypano... to make sure that the server for the license transfer is working properly. 

Few days ago it was not... as they could not transfer our license back to me for our Panoweaver 4.0 software