Sopcast is free from malware, it has built in adverts but you're getting this stuff for free. It's basically just p2p streaming software that works quite similarly to bittorrent. Whereas direct streaming quality diminishes the more people connect to it, it is the exact opposite with bittorrent. The more connected peers, the better the stream quality.
Peerguardian 2 is an essential downloading tool. It's basically a database of all the IP addresses that you wouldn't want to connect to , so that includes spammers, government, educational (don't trust college connections), anti-p2p and any law inforcement agencies. The lists are updated every day automatically and you can choose the level of protection you want. It's not a guarantee, but it's safer with than without. If you want a scare, take a look at the blocklists every now and then, you'll be shocked at who is trying to connect to you.
The law around watching these streams is kind of sketchy and other programs like TV Ants has it's streams cut all the time by pissed off sports broadcasters. I've found SOPCAST to be far more reliable and it has alot more sports channels than the other programs do (trust me, i've tried them all).
Setting up a proxy is up to you, personally I would as i'm super paranoid about online privacy (i'm on Virginmedia and I don't trust them), but it is by no means essential or even guaranteed to be 100% safe. If you do choose a proxy, try and use a Chinese or Hong Kong one, as they're less likely to be cut off compared to a UK one watching something like a live Saturday afternoon Premier League game. It might start off slowly , but it will get quicker.
So your laptop is safe , otherwise I wouldn't use it on mine.
