Yes, remove the tether software from you phone and computer, unless you might want to use the phone as a modem for your laptop while traveling, but you can always re-download from the marketplace when that happens.
There is a cable that connects the Hub to your computer so it does not take up any additional space. Plug the cable into the front of the computer, plug the other end into the hub, connect the power adaptor to the hub, place hub on the top, or next to your computer.
Connect the phone to the Hub, select Charge or Hard Drive on the phone when prompted and you should be good to go.
And now you have 4 extra ports for jump drives, ect.