You can configure a few basic things, such as whether to let iTunes copy your music for you, have PodLift copy it, or have PodLift copy it and not add it to iTunes at all (iTunes is not actually required to use PodLift). You can also configure how files are saved (whether to create artist\album directories, and what information to include in the filename).
PodLift uses the Apple QuickTime COM control to play tracks, so you need to install QuickTime to use PodLift.
PodLift has no ads, does not access the internet at all and does not change any settings in your computer.