The virus was no major threat but it did kind of of lag the speed of my internet connection
well depending on what type of virus it actually was would determine if it were a threat. As stated by one of the other members, it could have been coded by a 10 year old or it could have been coded by a 30 year virus writing vet determined on mass computer ownage with little early warning.
Some virus's will install a backdoor on your computers firewalls allowing the coder to get into your computer at which point they can do a number of things. They can monitor what you do on your computer, copy personal files to their computers, delete valuable personal or system files, or even turn your computer into a "zombie computer" in which your computer will basically be the hackers puppet of doom and tell it to autonomously send out copies of his virus to other machines via your email address or some have been known to wait until you log into a personal website such as mySpace(AKA crapSpace), FaceBook, etc and then theyll post bulletins that all your friends will see, open, and infect themselves at which point their computer will also become a zombie computer. Thats how viruses like the CodeRed virus a few years ago spread accross the entire planet in i think it was less than 3 days. One should be very very careful and cautious when their computer alerts them of such dangers. Thats also why proper detection/repairing program are a neccessity for computer nowadays.
Sorry if this was a bit long...
EDIT--
oh yeah, and McAfee is horrible, they do cause more trouble than theyre good for.