Actually it is a little better than you think...
If you install the Vision Acquisition Software (i.e. the dev toolkit) then you don't need a license at all provided you UNCHECK the IMAQdx component... Magic!
Of course, this will limit you to basic Image Management functions, but if that's all you need then you you don't need to pay half a year's salary for a full Vision license
A handy side effect of this is that you can acquire images using IMAQ with a 3rd party CameraLink board without any license (since camera link uses plain IMAQ, rather than IMAQdx), but if you use a GigE camera then you need IMAQdx and therefore you need a license. Something to think about if you are building a vision system and have a choice of hardware interfaces!
I tested this a little while back. Let's say you have a 1024x1024 RGB image:
The IMAQ control uses 4MB to display the image, as expected since the underlying data type is u32 (4 bytes per pixel). Pretty efficent.
The picture control uses 7MB which includes 4MB to display the image plus an additional 3MB for the input data. Why 3MB for the data? Well, the picture data is smart enough to know that an RGB image only has three bytes per pixel that are worth encoding.
Note that the IMAQ control doesn't have the overhead for the input data since IMAQ images are by-ref.