I too followed the installation instructions exactly, but had Error 692. After extensive web-searching, found the solution. Hope it works for you - it did for me. (But no guarantee!)When I start the USBModem_dialer.exe on my vista desktop, and want to connect using usb modem, which is succesfully installed. I get a remote access error 692. This means a hardware failure.
On trial and errors testing out various config changes I found that the key cause of my XP popping out the Error 692 is when I disabled Modem Compression at any end whether one and not the other or both (meaning the setting at modem properties in the Control Panel and the modem properties in the Dialup networking sections).
The fact is Modem Compression must be enabled on the Control Panel modem properties for the HTC USB modem and the modem properties in the corresponding dialup networking configuration.
The modem driver is great I got it installed and have had no problems with it however after installing it on my laptop running Vista Buisness Edition I am no longer able to sync with Windows Mobile Device Center. When I plug it in all it recognizes is the modem. Any ideas as to what is going on? I would appreciate any info. Thanks in advance.