No no!

It's an Enterprise Client based on a Tier level per physically populated socket

Tier 1 =1CPU
Tier 2 = 2-3 CPU
Tier 3 = 4
etc.  (Something like that at least...)
Again, populated sockets only!  Core counts make no difference.

This covers UNLIMITED guests.  You can carve out any number of vCPU's you want. 
 The Enterprise client for the physical host covers it all!


If they are charging for physical hosts and virtual guests, they are ripping 
you off and doing it wrong.

Again, look into Capacity licensing, and it could be simpler for you.  
Especially since you use quad CPU boxes.

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