As a commercial developer for Windows, I understand the corporate reason for registration, however for this use I can't agree.
1. Makes life harder for end users
2. Waste of time for the developers, doesn't actually improve the OS
3. When development stops, your OS is dead when that machine breaks
I was keeping an eye out for a cheap Mac to run it on, but I have to say that this puts the nail in the MorphOS coffin for me.
Who knows when it will be unregisterable, it's not like they have Microsofts staying power or the will/legal standing to release a key generator when they eventually go away.