I've found it to be very feature limited, but good at what it does. Never had any problems with it, seems stable - a resault of it's limited feature set.
Basically, it provides NAT services, and a DHCP server.
By default it uses 192.168.0.1 for it's network address, and allocates 192.168.0.2 - 254 to the clients. These addresses are configurable in the registry, but thats about the only option you can change.
To get the connection working on another machine, all you need to do is configure it to use dchp, or give it an IP in the range and set the gateway and dns to the sharing machine. IE, Netscape, e-mail programs etc shouldn't need any other configuration.