The control's design-time property pages let you define which fields to display. The right-hand panel isn't restricted to ListView duty. You can use the panel as a container for controls, forms, or any object with an hWnd property. You can also display a WebBrowser in the right-hand panel. You can set up an interface easily by dropping the control on a form and setting the appropriate properties to the desired DataEnvironment elements.
Most serious applications require more attention to detail.
You can split the ListView panel in half and manage each half-panel separately. You can also invoke a built-in toolbar through code. When you need to do more than navigation and display, you can dig in to Data Explorer's extensive object model. If you don't use a control like this often, the hardest part of setting up a tree-detail form is learning to use the native TreeView and ListView controls. In addition, these controls can't bind to a recordset.