Here are three variations on the numbering them, all using \MoveEqLeft. show an unnumbered group of equations, or all numbered but the middle one, or one number for the whole group.
\MoveEqLeft is defined in mathtools specifically for the case of a long first line in an alignment. I use it in a slighly different context but the global idea is the same: this command replaces the ampersand and move the firstline by 2 em by default; here I suse the optional argument, which is the number of em's by which thhe first line is moved. Actually, it can be applied to any line of an alignment, but I think it can make sense only for the first.
The second idea is to put the second line in a multlined environment, also defined in mathtools.
\documentclass[a4paper, 11pt]{book}
\usepackage[utf8]{inputenc}
\usepackage[showframe, nomarginpar]{geometry}
\usepackage{mathtools}
\begin{document}
\begin{align*}
\MoveEqLeft[4] (q^1+q^3+q^5+q^7)(q^2+q^4+q^6+q^8) \\
&=\begin{multlined}[t]
q^{1+2}+q^{1+4}+q^{1+6}+q^{1+8}+q^{3+2}+q^{3+4}+q^{3+6}+q^{3+8}\\+ q^{5+2}+q^{5+4}+q^{5+6}+q^{5+8}+q^{7+2}+q^{7+4}+q^{7+6}+q^{7+8}
\end{multlined}\\
&=q^3+2q^5+3q^7+4q^9+3q^{11}+2q^{13}+q^{15}
\end{align*}
\begin{align}
\MoveEqLeft[4] (q^1+q^3+q^5+q^7)(q^2+q^4+q^6+q^8) \\
&=\begin{multlined}[t] \notag
q^{1+2}+q^{1+4}+q^{1+6}+q^{1+8}+q^{3+2}+q^{3+4}+q^{3+6}+q^{3+8}\\+ q^{5+2}+q^{5+4}+q^{5+6}+q^{5+8}+q^{7+2}+q^{7+4}+q^{7+6}+q^{7+8}
\end{multlined}\\
&=q^3+2q^5+3q^7+4q^9+3q^{11}+2q^{13}+q^{15}
\end{align}
\begin{equation}
\begin{aligned}
\MoveEqLeft[4] (q^1+q^3+q^5+q^7)(q^2+q^4+q^6+q^8) \\
&=\begin{multlined}[t]
q^{1+2}+q^{1+4}+q^{1+6}+q^{1+8}+q^{3+2}+q^{3+4}+q^{3+6}+q^{3+8}\\+ q^{5+2}+q^{5+4}+q^{5+6}+q^{5+8}+q^{7+2}+q^{7+4}+q^{7+6}+q^{7+8}
\end{multlined}\\
&=q^3+2q^5+3q^7+4q^9+3q^{11}+2q^{13}+q^{15}
\end{aligned}
\end{equation}
\end{document}

alignatcode is there now. – Peter Grill Apr 21 '14 at 22:00\MoveEqLeft. Perhaps you should add an answer using that? – Peter Grill Apr 21 '14 at 22:03=sign isn't aligned. i think you can fix it by preceding it with{}. – barbara beeton Apr 22 '14 at 06:08