What does this chipset software really do? Im confused on what it does. BTW if installed is there a way to unistall it?

I never heard of such a program before and wanted to get some info on it.

It's the latest set of Intel device drivers. If you have an Intel board you can install these to update your existing drivers.

If you don't know much about chipset drivers or what chipset you have, it's probably better if you don't install them because they could really mess up your system if not done right. If you're not currently having any trouble with AGP or USB etc, then you probably don't really need them anyway. They are best installed directly after (or with) a fresh Windows install.