The device is simple enough. Just pop up the tripod screw and thread it into your camera's tripod socket. Then set the three position switch to the appropriate setting (extend, retract, lock) for your needs. To first use it, set the device to "Extend" and lower the cable and its foot pad to floor level. Place your foot on the foot pad and extend your camera to the desired height. At this point, lock the device and hold your camera to provide tension against the cable and enabling you to keep your camera a bit steadier.
The SteadePod can used with the camera in either the horizontal or vertical orientation. The foot pad can also be tucked into a belt. Used properly, the SteadePod can probably buy you at least an f-stop's worth of extra steadiness, possibly more. While it's not quite as good as a well-built monopod, it does have some advantages. For one, it's easier to carry and takes up less space in a suitcase or camera bag. More importantly, you can probably get away with using it in places where tripods and monopods aren't normally allowed.