Note you can't use resource governor on the reporting service itself, only connections to the database.

So report rendering/processing etc will be ungoverned.

It's also not instance aware so you might not get the results you expect.

If possible, I'd create a VM on the big host server and install reporting services on that. At least you can limit the CPU then.

Of course, if it's only lightly used then probably not an issue 🙂

Like happycat, I can't see how this fixes a licensing issue if SQL remains on the second box.

Cheers

Gaz