“I want to opt out of the Windows Insider Program on 7/29.”
If you decide to opt-out of the program and upgrade to the 7/29 build you will be subject to exactly the same terms and conditions that govern the offer* that was extended to all Genuine Windows 7 and 8.1 customers. This is not a path to attain a license for Windows XP or Windows Vista systems. If your system upgraded from a Genuine Windows 7 or Windows 8.1 license it will remain activated, but if not, you will be required to roll back to your previous OS version or acquire a new Windows 10 license
. If you do not roll back or acquire a new license the build will eventually expire.