As long as you make sure you uncheck the following 3 boxes (they are checked by default) before clicking on Accept and Install, your browser will not be hijacked with toolbars etc.
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you are right. However, once I did make the mistake of checking "install panda safe web with protection against malicious websites" thinking it will serve the purpose of blocking malicious websites but even after uninstalling Panda (with revo free) something like panda link checker remained and i was only able to remove it with iobit uninstaller (portable).