The status bar updates in real-time to let you know when the hardware is ready, and whether the Real Time update feature is On or Off. "Simulated Hardware" is displayed on the status bar until the selected hardware is connected. "Ready" indicates the hardware is connected and the software is ready to use.
If "Connecting Hardware..." continues to be displayed and does not change to "Ready" within a few minutes, there may be a problem with the VISA connections. Verify that the instruments are properly configured in the IO Libraries.