Though not technically required for operation, it is helpful and will be nearly required as I start working with changing the Linux kernel.
Here is how it is connected:
Board Wire Function Pin 1 Black Ground Pin 4 Green Receive Pin 5 White Transmit
The default serial port settings for the board are:
Stop Bits 1
I use PUTTY as a Windows terminal program. http://www.chiark.greenend.org.uk/~sgtatham/putty/download.html