Just linked it to my Windows Live Address which is linked to my Gamertag and completed all possible offers and maxed out my points for the day at 300. Just exchanged 100 Bing points for 100 Microsoft Points, 3 times.
The offers are ridiculously easy, some are just related to a historical event, like the Emancipation Proclamation which was issued earlier this week, in the past. Its a current offer and you get 6 points just by clicking on a link that takes you to a Bing Image search of it. There are a handful of offers like that, and an ongoing one that expires October 2nd which allows you to earn 1 bing point for every 2 searches on bing, up to a max of 20 points a day (40 searches).
In total, I completed all the available offers for today in a matter of minutes, and after the 250 bing points sign-up bonus, I maxed out at 300 points.
It asked for my shipping address and told me it would send me email confirmation after I redeemed. So I'm still waiting for the e-mails, and I hope they don't snail mail me the points...
EDIT: Also, I couldn't install it with Firefox, it said it needed to be initiated with Internet Explorer. So even though I initiated and installed with IE, when I opened Firefox again, to my surprise, the toolbar was THERE, in Firefox. I mean its a bit ugly but it'll do for now. But I also noticed the toolbar made Firefox slow down and lock up A LOT in the past few minutes, even made it crash once (I think it happens mostly when I open a new tab or load a new website in a fresh tab). Not sure if it plays nice with Firefox right now...