After installation, it will automatically run the Config tool.

General Tab:
Deselect windowed mode

Playback Tab:
Video renderer: EVR (Enhanced Video Renderer)
MPEG-2 Playback
Microsft DTV-DVD ...
Microsft DTV-DVD ...
Microsft DTV-DVD ...
Audio renderer: Realtek Digital OUtput

Capture Sources:
Add
Source Name: Hauppauge Tuner 1
Recording Source: Digital Recording Plugin - click Settings
 Select Only show devices detected in this machine
 Device number: 1
 OK
EPG Source: SchedulesDirect - click Settings
 Enter Username and Password
 14 days
 OK
Click Update EPG at bottom
Click Map digital channels to EPG channels
Wait for scan to complete...
Map each channel
OK
OK
Repeat for Hauppauge Tuner 2 / Device 2

Directories tab:
Open up Windows Explorer and create a TV folder and a LiveBuffer folder on the D: drive
Now set Recordings Directory to D:\TV
and the LiveTV Buffer to D:\LiveBuffer
Remove all library directories

Plugins tab:
Disable plugins for 
Music Library
Video Library
Photo Library
DVD
FM Radio
Net Radio