I set up my DNR-202L entirely through the direct IP interface, and only ran the Wizard at the end to register the device with mydlink.com. Personally, I've almost never used the mydlink.com interface for the DNR-202L, so having it registered to my account hasn't really been a benefit. (Though I recognize that other people might use the recorded differently than I, so they might like to have that ability.)
Instead, I view my cameras' live feeds, and save viewing recorded video for when I'm at home.