Just a little bit from Apples website, in case you didn’t take the time to read it when you downloaded boot camp:

Boot Camp Beta Expiration

Boot Camp Beta versions 1.0 through 1.2 expire on September 30, 2007. Boot Camp Beta is licensed for use on a trial basis for a limited time. To continue previewing Boot Camp after September 30, click the Download Now button above to install the latest version of Boot Camp Beta. You do not have to reinstall Windows. This new beta license will allow you to continue using Boot Camp until Mac OS X Leopard is available (expected October 2007).
Updating to Boot Camp 1.4 beta

If you previously installed Boot Camp beta, you can easily update to Boot Camp 1.4 beta. You don’t need to partition your hard drive again (unless you want to change its size) or reinstall your Macintosh and Windows software or documents, but it’s very important to update the Boot Camp Assistant software, create a new Mac Drivers CD and install the updated software it contains onto Windows. Complete instructions are provided in the Installation and Setup Guide included with the Boot Camp 1.4 beta software.

There is no word about whether it will continue to function after these dates, but it will be violating the terms of service, and will not be eligible for support from Apple. This is just a little trick to get everyone to upgrade to Leopard when it ships later this month. One of the legal solutions, if you aren’t already running it is Parallels. Run Windows on Mac OS X without rebooting!. Parallels allows you to mount the windows partition as a source for the virtual machine.

If you’re not ready to upgrade to Leopard right away and still want to use your Boot Camp partition, Parallels makes life very, very easy:

Option 1: The redirection
For months now, Parallels Desktop has been able to use a Boot Camp partition as a virtual hard drive, meaning that you can boot your Windows XP or Windows Vista partition in a virtual machine at any time, and move back and forth between the two. When Boot Camp’s license expires, you can still access your hard drive partition without using Boot Camp by booting the partition into a virtual machine. You won’t have to reinstall anything or worry about losing any of your critical Windows files.

Option 2: The full-on migration
Tired of Boot Camp and want to go all-Parallels? Run Parallels Transporter (bundled free with every copy of Desktop for Mac) to convert your Boot Camp partition to a fully-functional Parallels virtual machine. Copy the new virtual machine over to your OS X partition and start using as a new VM within Parallels Desktop. Once its Transported, you can delete your Boot Camp partition and free up a ton of disk space. Working with a native Parallels image also gives you access to key features like undo disks & snapshots.

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Sources:
Apple Boot Camp Beta Expires With Leopard — Mac OS X — InformationWeek
Apple Boot Camp
The Official Parallels Virtualization Blog: What to do with your expiring Boot Camp partition