I believe you are licensed to use it on projects where sync to film/multimedia post production.. etc.

However you aren't allowed to use it for ringtones, they have a separate license for that usually.

"Mechanical right allows creators to claim royalties when their works are recorded. We use the word "mechanical" to indicate the use of a mechanical device to play the music. Here are some examples of such devices : CD, vinyl LP, cassette, videocassette, DVD, perforated paper (which was once used in old player pianos)."

quote from : http://www.scena.org/lsm/sm5-4/Copyrights-en.htm

Usually means you can't duplicate them and sell them as your own. However if you change them so they are different than the original (ie you create a new sound based off the old sound, then it is nolonger the original sound.

@yjbrown - I'm pretty sure that the "edit a licenced sample so that it's not original anymore" concept is a bit of a gray area, legally. I think (and if anyone knows any different, please say) that it's only true IF your edited version is UNRECOGNISABLE from the original source. That way, I can't just take a song from Elvis, add some extra reverb to it, and claim it as original. However, if I drop it 5 octaves, and loads of compression, play it backwards etc etc, then it'd be unrecognisable as an Elvis song.

*8)