also provides antivirus
If that is so.... I wouldn't want to have it. VB never tested it. It is not ICSA certified. Never saw any review in a magazine (paper or online)
a popup blocker
XP SP2, IE's has that also as well as many other browsers.
And most importantly, we now stop you phone bill being scammed by rogue dialler software.
What's the use if you have cable/xdsl?
a facility to completely erase your surfing tracks
I'm 100% sure it doesn't do that. In 24 years I have seen a lot of applications who claimed to do so, but I never saw one who really did it. Surfing behaviour is stored in files and not only on your drive. The request you make when you want to visit a website is stored in many places of which most you don't even have access too. (ISP's, servers, data centers etc)
Example: If I write a util that blocks one malicious script and I put some extras in it, like a nice interface, stopwatch/timer. Than I can say "This util stops malware, protect your phone bill etc" without having to lie.
Why do you think experts recommend to use av, firewall (if you haven't got a hardware one), ad-aware, spybot s&d and HijackThis? Answer: because there is not a single application that can stop/prevent/remove all malware.
Applications like that won't change the things kids do on the net. If they can't do it at home, they will do it elsewhere. Raising the children well and learn them why they shouldn't or should do something is the best way.