I use a wired connection so only have indirect experience through other xbox owners of the wireless bridge connection.
As soon as you install it and register it to your wireless network then yet you should be up and running. Then the fun starts. You will need to think of a unique gamertag, If you keep getting your tag rejected as its already in use microsoft will give you a list of suggestions. Its worth thinking about this as whatever you choose you will have for a long time. Good luck and enjoy