[quote]If I'm not mistaken I believe the 3 installation limit is the number of PC so you should be able to install it on the same PC as many times as you like. [quote]
This is correct. However, if you change your hardware 'significantly' (no clarification on exactly how much hardware change 'significantly' is), you'll trigger a new activation. As well, if you reinstall your OS, you'll also trigger a new activation.
But yes, you can install on up to 3 separate machines and you can uninstall and reinstall as many times as you like on the same machine.
There is still a catch though: In order to play those 20 years old game (I still have all of my C-64) you got to have a working C-64. My C-64 is now on it's last leg so I probably junk my collection soon.
But that's a limitation of hardware failure (and may possibly be repairable, depending on the problem), not an artificial limitation intentionally imposed by the game publisher as would be the case with this DRM.