Reason doesnt have liscence number protection. You are pretty much free to install to as many desktops as you want.
Having said that, it is one of the easiest and most powerful tools i have ever used. I think its one of the most versatile VST instruments out there. I call it a VST instrument because i treat it as such; it is ALWAYS re-wired to Cubase and acts as a seperate instrument.
I know tons of really sick producers out there that always lay down their ideas and sketches on Reason first, then print down to audio and sequence in Cubase. The power of Reason is amazing. The only limits is your imagination, and of course, the choices of samples you use. :)