Does this deal sound legit?

Of course this is not legit. First of all it is a home made copy. Home made copies are not allowed to be sold, ever. Only the original disc is allowed to be sold. But in this case it is a personal license, which is not allowed to be sold. If you would buy this, you would have no right to any support and if the license key would get blocked, you can say bye bye to the money you paid for this home made disc. Using it would also be illegal, so if you would be checked by any authority on this matter, you would have to pay a fine and purchase the software officially still. Microsoft never gives out copied discs. All original discs given out come with a proof of license too.