After you install your documentation, you can see it in VS Help. VS Help opens in a local Help Viewer (for VS 2010 you need to install SP1 to have the local viewer). You should see your help in Contents, your items will be in Index and you can perform search on your help. And F1 help should work as well.
Here is a sample of MS Help Viewer topic shown in local Help Viewer 2.0:
When you recompile your help, it needs to be installed again which may take several minutes. Therefore we recommend you to compile HTML Help 1.x (chm_msdn10_lightweight) documentation for test purposes and use MS Help Viewer format when you are satisfied with your documentation.