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Bought this last night and install was basically painless. I didn't use any of the software that came with the product & decided to go with Windows Media Center (Running Windows 7). I literally plugged it in, scanned for channels, and was off to the races. I bought a separate pair of bunny ears for better reception ($10 bucks). If you are thinking about it, take the plunge and cancel your cable.
What's great about it: HD, Broadcast Channels, Little to no set up