Only just noticed this thread, and have to say I'm now a little concerned. I really don't mind dongles - the fact that you just plug them in and go is great. If every bit of software I own took the NI approach I would spend many more hours every time I rebuild my system.
But the notion that licenses are synonymous with the dongle I find disturbing. I'm not an expert, but I'm fairly positive that I wouldn't be able to find an insurance firm who will insure me for the theft of licenses. Any insurance firm with any sense will insist that a license, as something intangible, cannot be stolen, and should be re-supplied by the original issuer. So by taking the stance that they won't issue replacement licenses Vienna are asking us to invest in something that is completely uninsurable.
It also doesn't tally with the restritions placed on us as users. Under British law I'm fairly sure I'm entitled to transfer ownership of any physical item I own to another individual. If the licenses become synonymous with the dongle then I'm afraid there is nothing to stop me selling those licenses. If, on the other hand, the licenses remain untransferable, as Vienna would like to insist, then they are not synonymous with the dongle - they can no more be stolen than they can be sold. In which case, in the event of theft, responsibility to replace the physical dongle would fall to me, but the licenses are not gone, and Vienna should be responsible for restoring them.
Apologies if I missed somewhere in the thread, where this initial concern was resolved, but seriously guys, you can't have it both ways. Please sort your act out.