I'm confused on the CALs... there is technically only one "user" on the SQL server (sa) and only one computer (terminal server) will be connecting to it
Você não pode multiplexar o MS SQL assim. Se você tiver um aplicativo que usa o SQL Server e 100 pessoas usarem esse programa para acessar os dados, precisará de 100 CALs SQL.
Mais informações da Microsoft sobre multiplexação - Resumo de licenciamento: Multiplexação - Cliente Requisitos de licença de acesso (CAL) :
This brief explains how multiplexing impacts the licensing of Microsoft server operating systems and server products licensed under the Microsoft server/Client Access License (CAL) model. "Multiplexing" is when customers use hardware or software to pool connections, reroute information, or reduce the number of devices or users that directly access or use a product. Multiplexing can also include reducing the number of devices or users a product directly manages.
Da área específica do SQL do resumo:
SQL Server CALs are required for users who directly input into, query, or view data from a SQL Server database. Similarly, SQL Server CALs are required for users or devices that input data into, query, or view data from a SQL Server database through a pooling device. This includes users who view data through web-based applications or enter information into a database through an intermediary product. (Note: Customers can also license SQL Server on a per-core basis, thus negating any need for SQL Server CALs.)