In this paper we present our experiences with a P2P content distribution system that uses Network Coding. Using results from live trials, we are able to present a detailed performance analysis of such P2P system from a variety of novel perspectives. We show that Network Coding incurs little overhead, both in terms of CPU processing and I/O activity, and it results in smooth and fast downloads. To ensure secure transfers, we describe a novel scheme that veriﬁes encoded blocks on-the-ﬂy and analyze its performance. We also study the effect of peers behind NATs and ﬁrewalls and show the robustness of the system to large number of unreachable peers.