Depending on the source CD, it decides whether to create a PE1, PE2, PE3.
First use is just "One Click":
- Click the "Source" tab and define a valid XP, Vista or Win7 x86 source.
- Click the blue triange, and watch at the build.
- Finally you see your PE booting in the VirtualBox emulator, and you'll be able to browse with Opera.
Documentation (changes daily by actualization)