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The intent with our products is to sell a separate copy to each person who intends to use it at the same time. In the same way that you and your friend can't physically use the same iPod at the same time, we feel that software should work similarly. Providing users with a free secondary license is intended as a convenience to the user, allowing them to put the software on two separate computers that they own, without the need to purchase the product again.
So your proposal goes against the spirit of the product license, but it is technically within the letter of how it works. Since each purchase includes a free secondary license, there would be no extra cost involved.
If you do it, be aware that all secondary licenses are tied to the primary license in all respects. That means the same registered owner and email address is used for all the licenses. So one of you will be needing to specify the email address of the other person when activating your license. Submitting any issues to technical support will need to be handled similarly.
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