Typically, it's easier to reinstall the OS when the motherboard is changed out.
If the new motherboard's chipset and/or hard disk controllers are the same as the old one, then you can get away with not having to reinstall the OS.
However, if the changes are drastic (i.e.: going from an nVidia chipset to an Intel or from a Promise IDE controller to an nVidia one), then BSODs will pop up all over the place.