Yeah, that looks ok. (I forgot to mention that it is useful to use the correct password)
Get used to those IO_ERROR messages when starting...it's one of the things they are going to try to correct in the next version. You showed patience by waiting before re-starting, that's also good. Windows needs a bit of time to release file handles on mpiexec before it can fully close down the program. If the box gets really grouchy and won't start the client, a reboot will often solve the problem.
If you want to learn more about what the client is doing you can start it up with the -verbosity 9 flag; it will log all kinds of useless and arcane information that may be of interest to you.
After you are familiar with the client, if you want to run it as service and rid your machine of the window, let me know and I'll guide you through it.