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The offer clearly states; "Once you upgrade, you have Windows 10 for free on that device". Your device is identified through the hardware-based Digital Entitlement, the offer makes no mention of transferring the free upgrade to other devices. If they let you install Windows 10 using a Windows 7/8 licence on new hardware indefinitely then the offer hasn't ended. You can't contact Microsoft for a new key because you don't get a new full retail key with this offer. You just get a free upgrade through Digital Entitlement.
If you need someone else to tell you the same thing then here you go:
http://winsupersite.com/windows-10/what-happens-my-free-windows-10-upgrade-after-29-july-2016-if-i-need-change-hardware
I have spoken to Microsoft yesterday on this very subject and following that discussion I have now installed my retail copy of W7 on a VM then upgraded to W10. I was assured that if the customer has purchased a retail copy of Windows then the rights that came with that copy transfer over to Windows 10 even though the new T&C don't explicitly say this. This isn't the case for an OEM version.
Their exact words - If you upgraded from a retail copy of Windows 7, Windows 8 or 8.1, the Windows 10 license carries the retail rights from which it was derived
I was advised to delete the product key before I deleted the VM (via CMD) then install it again through the command prompt on my new PC and following that use the phone method to complete the process.