Yes , Yes and Yes

You'll have to setup a password with it. Make sure that you have a port punched in if you're using a router. Thats it. You can control PCs remotely !

Its another term of saying opening a port. If you're behind a router , so that the remote computer can connect. Otherwise your PC is hidden in your own network and the outside world can't see it !

If you're directly connecting using Windows' Dialer (i.e Connect to Streamyx). Then just ignore it

www.portforward.com . You should check that site out if you wish to port forward and use this software behind a router. If your router has uPnP it would automatically configure for you !

Beg to differ there. Windows XP Home and Vista Home Editions doesn't allow users to connect remotely to the computer. Only Professional edition of XP and Business/Ultimate edition of Vista allows the PC to be the host. Of course if you're talking about the client software , its bundled in all versions of XP and Vista !