Would it be considered piracy...

[sachmo]

Here is the stock answer on multiple copies of games. Many license agreements currently allow you to install software on as many computers as you want, as long as only one copy is running at a given time. On the other hand, you do own SEIV and Gold. So, you can sell, or give, your original copy to your friend, ask him to let you know when he is going to play it so that you won't be breaking the license agreement, and then once your PBEM game is done, remove 1.49. That is conditional, of course, on the license agreement being worded in this way. Some license agreements don't allow you to install the software on more than one computer without permission from the publisher.

If you want to be safe, give your friend the copy of 1.49 and remove it from your computer. OR, tell your friend to hang on for a month or so. then give him the software when you are finished with you PBEM game. Or write Shrapnel and ask for permission. In all situations, you are covered.