The installation starts. This can take a few minutes:

The installation is complete. Click on Close...

... and reboot the system - go to Live System User > Shut Down...

... and select Restart. Don't forget to remove the Live CD from the CD drive before the system boots again!

If the system is booting for the first time, the first boot wizard comes up. Click on Forward...

... and accept the license.

Then add a regular user account to the system (I'm creating the user falko here):

Select Synchronize date and time over the network and click on Forward (with the network time protocol (NTP) your computer can fetch the current time from a time server over the Internet, so you don't have to adjust the system clock every few weeks):

On the next screen you can send details about your hardware to the Fedora project to help them develop the software. It's up to you whether you want to submit these details or not:

Now that we are finished with the first boot wizard, we can log into our new desktop with the user we've just created:

This is how your new Fedora 15 desktop looks: