Just to be sure I have gone through the entire procedure again (including creating an account) and here is an overview
1. During the login on DreamSpark I was not presented any EULA
2. During the verification (the yes-I-am-a-student part) I was not presented an EULA
3. When I downloaded the ISO there was no EULA for Visual Studio 2010.
4. When installing VS2010 there was an EULA but this was the standard EULA of VS2010 with no mention of DreamSpark.

That means I never agreed to the DreamSpark license.

The only legal part that can be debated is the fact that I could expected that the DreamSpark license applies on all product. To give a real example (just to make it clear): If you are shopping for a TV and you find one for 5 euro while all other TV’s are at least 100 euro you could have expected that there was an error and that this TV also costs at least 100 euro. However the DreamSpark license contains a list of products (just a enumartion of software titles, but no special mention or anything) and you find the EULA back on the downloading pages of those products, however you also find it back on some of the download pages of software that was not mentioned in the EULA. And the express versions also don’t mention the DreamSpark EULA (they are free). But a few other software also don’t have the license (which means that VS2010 is not the only one who is unclear.)
Which means that is unclear for me as user to detemine (and thus expect) on what products the EULA does or does not apply.

In all honesty I think that microsoft might have made an oversight here, but if that was the case it is there problem.

1. NOTICE: STUDENT PROGRAM SOFTWARE. The terms of this license apply to all Software provided to You under the Student Program, and shall supersede and control over any conflicting license terms You may encounter in the Software, even if installation of the Software requires You to “accept” a separate end user license agreement.
http://www.churchmedia.net/forums/copyright-issues/36792-dreamspark-rocks-eula-might-not.html

So if DreamSpark came with this EULA it would over right part of any other EULA. In MSDN case all software on disk comes with retail EULA but there a EULA you get with MSDN it self that changes the rules of use for all software. DreamSpark sounds like it came with a EULA to do this. But could be wrong as do not have DreamSpark…

BTW your link to Full Microsoft DreamSpark License dos not work or without DreamSpark anyways..

Although I’m a programmer I know quite a bit about laws and agreements (two people in the family deal with it so I can’t help picking things up )

So you may want check for any EULA for DreamSpark it self MSDN has some thing like this too…

http://www.churchmedia.net/forums/copyright-issues/36792-dreamspark-rocks-eula-might-not.html