We're both really peeved about this, not so much because of the money (which I can get back easily, the purchase is covered both by Amazon's A-to-Z Guarantee and I can always dispute the charge with the credit card company), but because we needed this software now.
I've contacted Microsoft and the BSA about this, and left nasty negative feedback for the seller.
Sorry about the reflections in the photos, it's freaking hard to take a picture of a CD-ROM.
On genuine Microsoft discs, the label is embedded underneath the surface of the disc. This disc clearly has an adhesive label.
The wavy edge on a genuine Microsoft disc should be perfectly smooth. This one is obviously a badly cut sticker.
On a genuine Microsoft disc, the text on the underside of the disc should be oriented normally, not backwards like the counterfeit. (This is because it is impossible to make a holographic sticker that has a holograph on both sides)
The sticker is clearly flaking off this counterfeit disc. A genuine Microsoft disc has the label embedded underneath the surface, so there is nothing to flake off. Also note the obvious sticker line around the center hole.