What I should have also said was that although it was possible to shortcut it's Make a Connection interface to talk directly down a serial line, HyperTerm still expected very strongly you to do what I said. Navigating through the various cancel boxes to do it is far too intimidating.
Experienced users will of course save a configuration with the right settings, but on a new install of Windows, you have to run the gauntlet of the "Make a Connection" dialog boxes.
Wade.