SPF 2.0) does not in any way replace or obsolete standard SPF you should use both (and DKIM while you're at it, though that's harder). I'd steer clear of MS' wizard for spf1 records the openspf one is more reliable. This will mean that hotmail and friends subscribe to your DNS explicitly, again helping mail get delivered faster. The CNAME records you add to your domains DNS settings must be an exact match with the ones shown in your setup wizard. If you don't want to use any third-party service, make sure you understand the syntax of SPF as discussed above, and then create your SPF record accordingly.
When you're done, register your domain with Microsoft. The easiest way to generate an SPF record is to use the SPF record generator by MXToolBox. The SPF Wizard generates Sender Policy Framework DNS TXT, or caller id records suitable for adding to your dns zone files. This syntax is functionaly identical to the suggested spf2.0/pra ?all that Microsoft's somewhat buggy wizard will suggest. This says that you don't publish any "purported responsible address" records (which are somewhat broken anyway), but also makes SenderID defer to SPF for permitted mail sources. Having done that, create a SenderID record containing this: spf2.0/pra For a single IP, you don't need the /32 on the end as that's implicit.
It's considered courteous to list explicit IPs first since they require no addtional DNS lookups (so they're faster too) and SPF rules are evaluated left to right. If you can post your actual domain name, we can put one together for you.
Follow the instructions to modify DNS records. To create an SPF record, go to your registrar that is hosting your public zone record. In the Domain SPF Records section, click Edit All SPF Records. An SPF record is actually a simple text record. To do this you need to ALWAYS use your designated mail servers to handle your mail, which isn't too hard, but means in particular that home users can't use their ISPs mail servers, which in turn means they need to use SSL/TLS (or non-standard ports) as so many ISPs block port 25 other than to their own servers. From the SiteWorx main menu, click Administration > Mail Options > SPF.
A wizard for creating SPF records can be found at. In order for SPF to be any real benefit, you need to aim for a -all default action. If email arrives from a machine that is not listed in the SPF record, an MTA may classify it as spam.