I am a Mod on Comodo's Forums.
Version 4 is a great piece of software. Few popups, strong security. 32- and 64-bit, works with Windows 7, Sandbox feature for greater security.
However, I personally think it needs more polishing. For that reason alone I am still using 3.14.
The new installer is simply an online installer. You run the installer locally, and it will download and install the modules/sections you wish to install.
Please note, there is an (unofficial) offline installer available for those with a slow Internet connection: https://forums.comodo.com/feedbackco...3687#msg373687