After downloading CTM, I eagerly installed it on a virtual machine (a VM is a "computer" or operating system inside another operating system; see how to set a VM up here) running Windows 7. The first part of the installation finished in under 5 minutes. Then I had to restart, and a second installation ran before Windows booted up. This took about 3 minutes.
Because a picture is worth a thousand words, especially when you are figuring out whether to get a program, I shall be posting pictures throughout this review. So let's go through the installation:

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Now we will decide where to install CTM.

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This is the interesting part, not usually in installers:

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Here you decide which drives/partitions to protect with your snapshots. Since I only have one partition, I don't have much choice.

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So now we wait a bit. Soon we will get a screen asking us whether we should restart now or later. After partly restarting (Windows had shutdown so far but not booted up yet), we get a "pre-boot" screen from CTM:

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It seems it has to install some files before Windows starts.
Soon Windows boots up, and it is time to examine Comodo Time Machine itself (see the next section).