Connectify is fine -- and it has been updated extensively in the last few weeks -- but I've heard from a few folks that it's quirky and doesn't work on everyone's hardware. If that sounds like your experience, I have another option to try.
Give Virtual Router a shot. Like Connectify, Virtual Router turns your laptop into a Wi-Fi hotspot. Like Connectify, Virtual Router is simply to configure. Just install it, and it's basically ready to go.
Unlike Connectify, though, Virtual Router appears to be destined to be free for the duration, so you can continue using it at no cost after it leaves beta.