Setup was painless. Running Windows Vista, I plugged in the cable, power cord, and put the CD in. I installed the software in about 5 minutes. I turned the power on and put in my first set of 120 negatives, Fuji Reala taken with a Rolleicord III. I used the auto-scan function to see what would happen, and voila! In a short time I had my three 120 frames scanned. They turned out pretty nice, as you can see from this shot:

I'll post some more if anyone is interested.
One note of confusion - you can't seem to select anything but "35mm Film" in the software. On auto it will detect the film size properly, but you can't specify this before you start scanning. Odd. In any case the scanner is nice and fast.
Oh, and the included Photoshop Elements 5 is KEWL. It has this background remover tool. Click on a few foreground points, then a few background points and it magically rextracts your foreground subject. Totally amazing.